Wayfair Inc. (NYSE:W) Insider Sells $1,269,300.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wayfair Trading Up 3.3 %

Shares of W opened at $44.03 on Monday. The stock’s 50-day moving average price is $47.86 and its two-hundred day moving average price is $50.72. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The company has a market capitalization of $5.52 billion, a PE ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last issued its quarterly earnings data 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 the consensus estimate of $2.87 billion. During the same quarter last year, the business earned ($1.38) earnings per share. Wayfair’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Wayfair Inc. will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of W. WealthPlan Investment Management LLC lifted its stake in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after purchasing an additional 271 shares during the period. Creative Planning lifted its stake in Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after buying an additional 272 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Wayfair during the 3rd quarter worth approximately $29,000. Optimist Retirement Group LLC grew its position in shares of Wayfair by 14.9% during the 2nd quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock worth $231,000 after buying an additional 568 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Wayfair by 12.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock valued at $381,000 after acquiring an additional 788 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on W shares. Wedbush dropped their price target on Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Robert W. Baird reduced their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Bank of America downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $58.00 in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.28.

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.