Wayfair (NYSE:W) Insider Sells $12,033,600.00 in Stock

by · The Cerbat Gem

Wayfair Inc. (NYSE:W – Get Free Report) insider Steven Conine sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $100.28, for a total value of $12,033,600.00. Following the completion of the sale, the insider directly owned 469,073 shares of the company’s stock, valued at approximately $47,038,640.44. The trade was a 20.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

  • On Friday, December 26th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $102.33, for a total transaction of $3,069,900.00.
  • On Monday, November 24th, Steven Conine sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00.
  • On Tuesday, October 28th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $105.09, for a total transaction of $3,152,700.00.
  • On Thursday, October 23rd, Steven Conine sold 120,000 shares of Wayfair stock. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00.
  • 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.

Wayfair Price Performance

NYSE:W traded down $0.26 during trading hours on Monday, reaching $101.96. The company’s stock had a trading volume of 1,433,838 shares, compared to its average volume of 4,564,407. The company has a market cap of $13.29 billion, a price-to-earnings ratio of -39.83 and a beta of 3.25. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92. The business’s 50-day moving average is $99.96 and its 200-day moving average is $81.17.

Wayfair (NYSE:W – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.01 billion. Wayfair’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on W shares. The Goldman Sachs Group lifted their price target on shares of Wayfair from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $110.00 target price on shares of Wayfair and gave the company a “market perform” rating in a research note on Wednesday, October 29th. Needham & Company LLC lifted their target price on shares of Wayfair from $83.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays upped their price target on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.29.

Check Out Our Latest Analysis on Wayfair

Institutional Trading of Wayfair

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC increased its position in shares of Wayfair by 235.2% during the first quarter. Hsbc Holdings PLC now owns 25,095 shares of the company’s stock valued at $804,000 after purchasing an additional 17,608 shares during the period. Benchstone Capital Management LP boosted its stake in Wayfair by 11.0% during the first quarter. Benchstone Capital Management LP now owns 404,585 shares of the company’s stock worth $12,959,000 after buying an additional 40,213 shares in the last quarter. Graham Capital Management L.P. increased its holdings in Wayfair by 20.0% in the 1st quarter. Graham Capital Management L.P. now owns 50,471 shares of the company’s stock valued at $1,617,000 after buying an additional 8,413 shares during the period. Maverick Capital Ltd. bought a new stake in Wayfair in the 1st quarter valued at $2,153,000. Finally, Perbak Capital Partners LLP acquired a new position in shares of Wayfair in the 1st quarter valued at $348,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

(Get Free Report)

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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