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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 150,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the insider directly owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. The trade was a 17.06% decrease in their position. The sale 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 Tuesday, October 28th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $105.09, for a total transaction of $3,152,700.00.
• On Thursday, October 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00.
• On Monday, October 20th, Steven Conine sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $82.85, for a total value of $7,042,250.00.
• On Monday, September 22nd, Steven Conine sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00.

Wayfair Stock Performance

NYSE:W traded up $2.96 during trading on Wednesday, reaching $112.75. The company’s stock had a trading volume of 2,211,189 shares, compared to its average volume of 4,729,306. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of -44.04 and a beta of 3.03. The firm has a 50 day moving average of $92.21 and a 200-day moving average of $71.50. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $114.92.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in shares of Wayfair by 111.7% in the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after buying an additional 276,471 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Wayfair during the second quarter worth approximately $1,512,000. Jacobs Levy Equity Management Inc. purchased a new stake in Wayfair during the first quarter valued at approximately $452,000. Signaturefd LLC lifted its stake in shares of Wayfair by 10.1% in the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock valued at $19,264,000 after purchasing an additional 34,507 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Wayfair by 40.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock valued at $603,000 after purchasing an additional 3,395 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on W shares. Evercore ISI raised their price objective on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Guggenheim raised their target price on shares of Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a report on Wednesday, October 8th. Finally, Bank of America upgraded Wayfair from a “neutral” rating to a “buy” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.57.

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.