Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 9,798 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 9,798 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $40.02, for a total transaction of $392,115.96. Following the transaction, the insider now owns 549,275 shares of the company’s stock, valued at approximately $21,981,985.50. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 Thursday, February 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00.

Wayfair Stock Performance

Shares of NYSE:W opened at $38.68 on Friday. The business’s fifty day moving average price is $31.02 and its two-hundred day moving average price is $40.01. The stock has a market cap of $4.91 billion, a PE ratio of -9.62 and a beta of 2.93. Wayfair Inc. has a one year low of $20.41 and a one year high of $71.15.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) EPS. As a group, equities research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after purchasing an additional 381 shares during the period. J.Safra Asset Management Corp raised its holdings in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after buying an additional 244 shares during the period. Jones Financial Companies Lllp raised its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the period. GAMMA Investing LLC lifted its position in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Wayfair during the fourth quarter worth approximately $41,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group cut their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Thursday, May 1st. Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a research report on Friday, February 21st. Truist Financial set a $40.00 target price on Wayfair in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered 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. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average price target of $43.83.

Wayfair Company Profile

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.