Steven Conine Sells 30,000 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, December 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00.
• On Friday, December 6th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00.
• On Wednesday, November 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00.

Wayfair Price Performance

W stock opened at $48.02 on Friday. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The firm has a 50 day simple moving average of $46.19 and a 200 day simple moving average of $47.23.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts expect that Wayfair Inc. will post -2.91 EPS for the current fiscal year.

Institutional Trading of Wayfair

A number of hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new position in shares of Wayfair during the third quarter valued at $29,000. GAMMA Investing LLC grew its stake in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wayfair in the 3rd quarter valued at about $44,000. Brooklyn Investment Group purchased a new stake in shares of Wayfair in the third quarter worth approximately $50,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair during the third quarter worth approximately $67,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

W has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $44.00 in a report on Monday, January 6th. Truist Financial cut their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $60.24.

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.