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 stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 Trading Down 9.0 %

Wayfair stock opened at $41.92 on Monday. The firm has a market capitalization of $5.25 billion, a P/E ratio of -10.43 and a beta of 3.43. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18. The business has a 50-day moving average of $46.22 and a 200-day moving average of $46.55.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. Research analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Mizuho lowered their price objective on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Citigroup decreased their price target on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America decreased their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $58.40.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of the company. Capital World Investors lifted its stake in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock valued at $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wayfair by 17.9% in the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after acquiring an additional 581,000 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its stake in Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock valued at $124,096,000 after acquiring an additional 1,400,000 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

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.