Wayfair (NYSE:W) Director Sells 117,000 Shares of Company Stock

Wayfair Inc. (NYSE:W) Director Steven Conine sold 117,000 shares of Wayfair stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the sale, the director owned 105,073 shares of the company’s stock, valued at approximately $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 12th, Steven Conine sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $105.75, for a total transaction of $7,296,750.00.
• On Monday, September 14th, Steven Conine sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00.
• On Wednesday, August 12th, Steven Conine sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00.

Wayfair Trading Up 4.2%

Shares of NYSE:W traded up $4.53 during trading on Monday, hitting $111.81. 2,162,916 shares of the company’s stock were exchanged, compared to its average volume of 3,448,153. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The firm has a 50-day moving average price of $102.50 and a two-hundred day moving average price of $87.71. The firm has a market cap of $14.76 billion, a P/E ratio of -45.45, a PEG ratio of 3.86 and a beta of 3.02.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. Wayfair’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. As a group, research analysts predict that Wayfair Inc. will post 0.93 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on W. Royal Bank Of Canada raised their price objective on Wayfair from $78.00 to $92.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. BMO Capital Markets boosted their target price on Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. TD Cowen increased their price target on Wayfair from $75.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC raised their price target on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $120.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $120.93.

Key Headlines Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair plans to open a physical furniture store in Denver next month. The location could expand brand visibility, provide customers with an in-person shopping option and support an omnichannel strategy, although the store may also add operating costs before contributing materially to revenue. Furniture retailer Wayfair to open brick-and-mortar store in Denver next month
• Neutral Sentiment: Recent coverage highlights Wayfair’s home-furnishings assortment, seasonal promotions and discounted products. These articles may support customer engagement and sales activity, but the emphasis on discounts could pressure gross margins and does not provide evidence of a material change in financial forecasts. Wayfair comforter promotion
• Neutral Sentiment: A head-to-head survey comparing Brilliant Earth Group and Wayfair offers limited direct insight into Wayfair’s earnings outlook or near-term valuation. Brilliant Earth Group and Wayfair head-to-head survey
• Negative Sentiment: Director Steven Conine and CEO Niraj Shah each sold 117,000 shares at an average price of $111.25, reducing their direct holdings by roughly 53% and generating approximately $13.0 million apiece. The transactions may weigh on sentiment because of their size, though both were scheduled under Rule 10b5-1 plans. Wayfair insider sale filing
• Negative Sentiment: Insider Jon Blotner sold 546 shares for about $60,060. The transaction was small relative to his remaining ownership and was also made under a pre-arranged trading plan, limiting its significance. Wayfair insider transaction filing

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock worth $290,813,000 after buying an additional 296,233 shares during the period. Atreides Management LP grew its holdings in shares of Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after buying an additional 560,133 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Wayfair by 46.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after buying an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after buying an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after buying an additional 5,586 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.