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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, January 21st, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00.
• On Friday, December 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $45.75, for a total transaction of $1,372,500.00.
• On Friday, December 6th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00.

Wayfair Stock Down 9.0 %

NYSE:W opened at $41.92 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of -10.43 and a beta of 3.43. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The company’s 50-day moving average price is $46.22 and its two-hundred day moving average price is $46.51.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.07 billion. On average, research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Wayfair

Large investors have recently modified their holdings of the stock. Tabor Asset Management LP lifted its position in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after purchasing an additional 15,932 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Wayfair during the fourth quarter worth approximately $6,799,000. Wellington Management Group LLP lifted its position in shares of Wayfair by 22.4% during the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after purchasing an additional 201,157 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Wayfair during the third quarter worth approximately $1,070,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

W has been the subject of a number of research analyst reports. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Friday. Wedbush restated a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the stock an “overweight” rating in a report on Friday. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.40.

Wayfair Company Profile

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.