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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $102.33, for a total transaction of $3,069,900.00. Following the transaction, the insider directly owned 439,073 shares in the company, valued at $44,930,340.09. The trade was a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were sold at an average price of $105.92, for a total value of $15,888,000.00.
• On Tuesday, October 28th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $105.09, for a total value of $3,152,700.00.
• On Thursday, October 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The shares were sold at an average price of $82.17, for a total value 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 transaction of $7,042,250.00.

Wayfair Price Performance

NYSE W traded down $0.26 on Monday, hitting $101.96. 1,433,838 shares of the stock were exchanged, compared to its average volume of 4,564,407. The business’s fifty day moving average is $99.96 and its 200 day moving average is $81.17. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $114.92. The company has a market capitalization of $13.29 billion, a PE ratio of -39.83 and a beta of 3.25.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC raised its position in shares of Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc increased its stake in Wayfair by 8.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,948 shares of the company’s stock worth $174,000 after acquiring an additional 151 shares during the period. Global Retirement Partners LLC raised its holdings in Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Wayfair by 3.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock valued at $352,000 after acquiring an additional 200 shares during the period. Finally, Comerica Bank grew its holdings in shares of Wayfair by 56.5% during the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the topic of a number of research analyst reports. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. increased their price objective on shares of Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft set a $75.00 target price on shares of Wayfair in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a research note on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating on shares of Wayfair in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

About Wayfair

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.