Wayfair (NYSE:W) Stock: Insider Steven Conine Sells 69,000 Shares

Wayfair Inc. (NYSE:W) Director Steven Conine sold 69,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $105.75, for a total transaction of $7,296,750.00. Following the completion of the sale, the director owned 222,073 shares in the company, valued at $23,484,219.75. The trade was a 23.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Steven Conine sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00.
• On Wednesday, August 12th, Steven Conine sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00.

Wayfair Price Performance

Shares of W traded down $3.17 during trading hours on Wednesday, reaching $104.82. 2,196,248 shares of the company’s stock traded hands, compared to its average volume of 3,458,665. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of -42.61, a P/E/G ratio of 3.81 and a beta of 3.02. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98. The business’s fifty day simple moving average is $102.40 and its two-hundred day simple moving average is $86.94.

Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. On average, equities research analysts expect that Wayfair Inc. will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently bought and sold shares of W. Janus Henderson Group PLC raised its holdings in shares of Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the period. Atreides Management LP boosted its position in Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after purchasing an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Wayfair by 46.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after purchasing an additional 328,358 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Wayfair by 42.2% in the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Wayfair by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after purchasing an additional 5,586 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley restated an “overweight” rating on shares of Wayfair in a research report on Wednesday, August 5th. TD Cowen increased their price objective on shares of Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Guggenheim raised their price objective on shares of Wayfair from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $108.00 target price on shares of Wayfair in a report on Tuesday, August 4th. Finally, BMO Capital Markets boosted their target price on Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $120.93.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.