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

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

Wayfair Stock Up 3.3 %

Shares of W stock opened at $44.03 on Friday. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The company’s fifty day simple moving average is $47.86 and its 200-day simple moving average is $50.85. The firm has a market cap of $5.52 billion, a PE ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the business earned ($1.38) EPS. Wayfair’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Teachers Retirement System of The State of Kentucky lifted its position in shares of Wayfair by 16.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after buying an additional 20,884 shares during the last quarter. Geode Capital Management LLC raised its stake in Wayfair by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after acquiring an additional 35,268 shares during the period. Groupama Asset Managment lifted its holdings in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after purchasing an additional 500,000 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Wayfair during the 3rd quarter valued at $4,418,000. Finally, XTX Topco Ltd bought a new position in Wayfair during the third quarter worth $557,000. 89.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup reduced their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. BMO Capital Markets lowered their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lowered their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $58.00 in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price 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.