Insider Selling: Wayfair (NYSE:W) Insider Sells 150,000 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 150,000 shares of the company’s stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Wayfair Price Performance

W stock traded up $1.09 on Tuesday, reaching $111.22. 1,320,938 shares of the company traded hands, compared to its average volume of 2,682,800. Wayfair Inc. has a one year low of $20.41 and a one year high of $119.98. The company has a market cap of $14.50 billion, a P/E ratio of -43.44, a price-to-earnings-growth ratio of 9.02 and a beta of 3.31. The firm has a fifty day simple moving average of $104.78 and a 200-day simple moving average of $89.76.

Wayfair (NYSE:W) last released its earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

W has been the topic of several analyst reports. Barclays upped their target price on shares of Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Morgan Stanley lifted their target price on Wayfair from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Jefferies Financial Group lowered shares of Wayfair from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a research note on Wednesday, December 3rd. Finally, Raymond James Financial raised their target price on shares of Wayfair from $90.00 to $130.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.21.

Institutional Investors Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its stake in Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 282 shares during the last quarter. True Wealth Design LLC raised its position in shares of Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Wayfair in the fourth quarter valued at about $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in Wayfair in the 4th quarter valued at about $33,000. 89.67% of the stock is owned by institutional investors.

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.