Wayfair (NYSE:W) Insider Steven Conine Sells 150,000 Shares

Wayfair Inc. (NYSE:W) insider Steven Conine sold 150,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the sale, the insider owned 289,073 shares in the company, valued at $31,471,377.51. This represents a 34.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, December 26th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $102.33, for a total value of $3,069,900.00.
• On Tuesday, December 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $100.28, for a total transaction of $12,033,600.00.
• On Monday, November 24th, Steven Conine sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00.

Wayfair Stock Up 1.0%

Shares of NYSE W traded up $1.09 during trading on Tuesday, reaching $111.22. The company had a trading volume of 1,320,938 shares, compared to its average volume of 2,682,800. The stock has a market cap of $14.50 billion, a PE ratio of -43.44, a P/E/G ratio of 9.02 and a beta of 3.31. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $119.98. The business’s 50-day moving average is $104.78 and its 200 day moving average is $89.76.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. On average, analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Wayfair by 826.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after purchasing an additional 2,512,854 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Wayfair in the third quarter worth about $108,125,000. AQR Capital Management LLC increased its stake in shares of Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after buying an additional 1,033,865 shares during the period. Holocene Advisors LP lifted its stake in Wayfair by 351.9% in the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after acquiring an additional 1,007,676 shares during the period. Finally, Spruce House Investment Management LLC boosted its stake in shares of Wayfair by 37.6% during the 2nd quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock valued at $153,420,000 after purchasing an additional 819,615 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a research report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on Wayfair from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $110.00 price objective on shares of Wayfair and gave the company a “market perform” rating in a report on Wednesday, October 29th. Zacks Research downgraded shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 target price on Wayfair in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.21.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.