Wayfair (NYSE:W) Insider Steven Conine Sells 93,050 Shares

Wayfair Inc. (NYSE:W) insider Steven Conine sold 93,050 shares of Wayfair stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $74.63, for a total transaction of $6,944,321.50. Following the sale, the insider owned 196,023 shares of the company’s stock, valued at approximately $14,629,196.49. The trade was a 32.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, January 23rd, Steven Conine sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00.
• On Friday, December 26th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were 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 stock was sold at an average price of $100.28, for a total transaction of $12,033,600.00.

Wayfair Stock Performance

W traded up $1.85 during trading on Wednesday, reaching $75.76. The stock had a trading volume of 3,944,166 shares, compared to its average volume of 3,821,263. The business has a 50-day moving average of $100.63 and a 200-day moving average of $93.78. Wayfair Inc. has a one year low of $20.41 and a one year high of $119.98. The stock has a market cap of $9.88 billion, a PE ratio of -31.18, a PEG ratio of 6.97 and a beta of 3.36.

Analyst Upgrades and Downgrades

Several research firms have commented on W. Robert W. Baird decreased their price target on shares of Wayfair from $98.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Citigroup increased their target price on shares of Wayfair from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BMO Capital Markets set a $110.00 target price on shares of Wayfair and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Barclays boosted their price target 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. Finally, Wedbush decreased their price objective on Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $105.48.

Institutional Trading of Wayfair

A number of institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in Wayfair by 826.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock valued at $251,648,000 after purchasing an additional 2,512,854 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Wayfair during the third quarter valued at approximately $108,125,000. Norges Bank bought a new position in shares of Wayfair during the fourth quarter valued at approximately $117,973,000. AQR Capital Management LLC lifted its stake in Wayfair by 197.3% in the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after acquiring an additional 1,033,865 shares during the period. Finally, Holocene Advisors LP lifted its stake in Wayfair by 351.9% in the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after acquiring an additional 1,007,676 shares during the period. 89.67% of the stock is currently owned by hedge funds and other 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.