Wayfair (NYSE:W) Director Sells 69,000 Shares of Stock

Wayfair Inc. (NYSE:W) Director Steven Conine sold 69,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the sale, the director owned 291,073 shares of the company’s stock, valued at approximately $30,085,305.28. The trade was a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Steven Conine sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00.

Wayfair Stock Performance

W stock traded down $0.20 during trading on Wednesday, hitting $103.49. 2,546,645 shares of the company traded hands, compared to its average volume of 3,602,410. The firm has a market capitalization of $13.66 billion, a PE ratio of -42.07, a P/E/G ratio of 3.77 and a beta of 2.99. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $119.98. The company has a 50-day moving average of $97.12 and a 200-day moving average of $83.17.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.Wayfair’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. Sell-side analysts expect that Wayfair Inc. will post 0.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on W. Evercore restated an “outperform” rating and issued a $130.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Morgan Stanley reissued an “overweight” rating on shares of Wayfair in a report on Wednesday, August 5th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wayfair in a research note on Tuesday, September 1st. Rosenblatt Securities assumed coverage on Wayfair in a research note on Thursday, August 20th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, TD Cowen boosted their price target on Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.89.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Havemeyer Place LP bought a new position in shares of Wayfair during the fourth quarter valued at approximately $39,000. Larson Financial Group LLC lifted its holdings in shares of Wayfair by 36.2% during the fourth quarter. Larson Financial Group LLC now owns 708 shares of the company’s stock valued at $71,000 after purchasing an additional 188 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Wayfair by 79.2% in the 2nd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares in the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Wayfair in the 1st quarter worth approximately $83,000. Finally, Rothschild Investment LLC grew its stake in shares of Wayfair by 27.9% in the 4th quarter. Rothschild Investment LLC now owns 1,401 shares of the company’s stock worth $141,000 after buying an additional 306 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.