Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 30,000 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $49.43, for a total transaction of $1,482,900.00. Following the completion of the transaction, the insider now owns 439,073 shares in the company, valued at approximately $21,703,378.39. The trade was a 6.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, May 27th, Steven Conine sold 73,095 shares of Wayfair stock. The stock was sold at an average price of $40.40, for a total transaction of $2,953,038.00.
• 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 shares were 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 shares were sold at an average price of $40.02, for a total transaction of $392,115.96.

Wayfair Trading Down 1.0%

W stock traded down $0.50 during midday trading on Monday, hitting $48.96. The company’s stock had a trading volume of 3,742,568 shares, compared to its average volume of 4,797,944. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $58.42. The company has a 50 day moving average of $37.45 and a two-hundred day moving average of $40.05.

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

Wall Street Analysts Forecast Growth

W has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Zelman & Associates initiated coverage on shares of Wayfair in a research note on Thursday, May 15th. They set an “outperform” rating on the stock. Mizuho lowered their target price on shares of Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Monday, April 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $61.00 price target (up previously from $46.00) on shares of Wayfair in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $43.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. True Wealth Design LLC boosted its position in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the last quarter. J.Safra Asset Management Corp boosted its position 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 acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp boosted its position 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 acquiring an additional 502 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Wayfair during the 4th quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Wayfair during the 4th quarter valued at approximately $45,000. 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.