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

Wayfair Inc. (NYSE:W) Director Steven Conine sold 69,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the director directly owned 360,073 shares of the company’s stock, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wayfair Price Performance

Shares of W stock traded up $0.46 during trading hours on Friday, reaching $101.59. 1,905,847 shares of the stock were exchanged, compared to its average volume of 4,093,442. The business’s fifty day moving average is $90.52 and its two-hundred day moving average is $81.71. The firm has a market capitalization of $13.41 billion, a P/E ratio of -41.30, a P/E/G ratio of 4.48 and a beta of 2.99. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts predict that Wayfair Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on W. Wedbush lifted their price objective on shares of Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research lowered Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada raised their price target on Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, UBS Group upped their price objective on Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.70.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors boosted its stake in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after acquiring an additional 82,584 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after purchasing an additional 180,558 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Wayfair by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after purchasing an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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.