Wayfair (NYSE:W) Insider Sells $9,860,400.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 120,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the transaction, the insider directly owned 169,073 shares in the company, valued at $13,892,728.41. The trade was a 41.51% 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.

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

• On Monday, October 20th, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total transaction of $7,042,250.00.
• On Monday, September 22nd, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00.
• On Wednesday, August 20th, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00.
• On Wednesday, August 13th, Steven Conine sold 199,473 shares of Wayfair stock. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20.
• On Thursday, August 7th, Steven Conine sold 17,752 shares of Wayfair stock. The stock was sold at an average price of $77.29, for a total transaction of $1,372,052.08.
• On Wednesday, August 6th, Steven Conine sold 7,775 shares of Wayfair stock. The stock was sold at an average price of $77.02, for a total transaction of $598,830.50.

Wayfair Stock Performance

NYSE:W opened at $83.12 on Monday. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $91.77. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of -34.63 and a beta of 3.03. The firm’s 50-day simple moving average is $82.48 and its 200 day simple moving average is $59.83.

Wayfair (NYSE:W) last released its quarterly earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Wayfair’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently made changes to their positions in W. Alyeska Investment Group L.P. boosted its position in Wayfair by 681.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after buying an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP boosted its position in Wayfair by 42.9% during the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares during the period. Spruce House Investment Management LLC boosted its position in Wayfair by 37.6% during the 2nd quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after buying an additional 819,615 shares during the period. Geode Capital Management LLC boosted its position in Wayfair by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company’s stock worth $84,985,000 after buying an additional 59,083 shares during the period. Finally, AQR Capital Management LLC boosted its position in Wayfair by 197.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after buying an additional 1,033,865 shares during the period. 89.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Mizuho raised their target price on shares of Wayfair from $50.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Wedbush reissued a “neutral” rating on shares of Wayfair in a report on Tuesday, August 5th. Canaccord Genuity Group raised their target price on shares of Wayfair from $58.00 to $70.00 and gave the company a “buy” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company raised their target price on shares of Wayfair from $84.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $76.88.

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.