Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 73,095 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 73,095 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.40, for a total transaction of $2,953,038.00. Following the completion of the sale, the insider now directly owns 469,073 shares in the company, valued at approximately $18,950,549.20. This represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, May 14th, Steven Conine sold 2,246 shares of Wayfair stock. The shares were sold at an average price of $40.01, for a total transaction of $89,862.46.
• On Tuesday, May 13th, Steven Conine sold 4,861 shares of Wayfair stock. The stock was sold at an average price of $40.12, for a total transaction of $195,023.32.
• 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.

Wayfair Stock Performance

NYSE:W opened at $42.43 on Thursday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $62.43. The stock has a market capitalization of $5.44 billion, a P/E ratio of -10.55 and a beta of 2.93. The company’s 50-day simple moving average is $32.13 and its 200-day simple moving average is $39.81.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Wayfair in a research note on Thursday, May 1st. Piper Sandler set a $58.00 price target on shares of Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. Loop Capital reaffirmed a “sell” rating and issued a $35.00 price target on shares of Wayfair in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Stifel Nicolaus reduced their price target on shares of Wayfair from $46.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.83.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Wayfair in the 1st quarter valued at about $3,043,000. Fred Alger Management LLC boosted its stake in Wayfair by 40.1% in the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock worth $2,827,000 after purchasing an additional 25,260 shares in the last quarter. Scientech Research LLC boosted its stake in Wayfair by 33.1% in the 1st quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock worth $1,159,000 after purchasing an additional 9,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wayfair by 29.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Wayfair in the 1st quarter worth approximately $452,000. 89.67% of the stock is currently owned by institutional investors.

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.