Wayfair Inc. (NYSE:W) Insider Steven Conine Sells 4,861 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 4,861 shares of Wayfair stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.12, for a total transaction of $195,023.32. Following the completion of the transaction, the insider now directly owns 544,414 shares in the company, valued at $21,841,889.68. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steven Conine also recently made the following trade(s):

• On Monday, May 12th, Steven Conine sold 9,798 shares of Wayfair stock. The stock was sold at an average price of $40.02, for a total transaction of $392,115.96.
• On Thursday, February 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00.

Wayfair Stock Up 0.4%

Shares of NYSE:W opened at $38.68 on Friday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -9.62 and a beta of 2.93. The stock’s 50 day moving average is $31.02 and its 200-day moving average is $40.01. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $71.15.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) earnings per share. Equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in W. True Wealth Design LLC lifted its holdings in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. GAMMA Investing LLC grew its position in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Wayfair during the 4th quarter worth approximately $41,000. Institutional investors own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on W shares. Truist Financial set a $40.00 target price on shares of Wayfair in a research note on Friday, May 2nd. Jefferies Financial Group upgraded shares of Wayfair from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $47.00 in a research note on Friday, March 7th. Raymond James set a $60.00 target price on shares of Wayfair and gave the company a “strong-buy” rating in a research note on Friday, February 21st. Zelman & Associates began coverage on shares of Wayfair in a research note on Thursday. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.