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 company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Wayfair Trading Up 3.3 %

W opened at $44.03 on Friday. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The business’s 50-day moving average price is $47.86 and its 200-day moving average price is $50.85. The company has a market cap of $5.52 billion, a P/E ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned ($1.38) earnings per share. Equities research analysts forecast that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several institutional investors have recently added to or reduced their stakes in W. Capital Performance Advisors LLP purchased a new stake in Wayfair in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Wayfair in the third quarter worth $44,000. Brooklyn Investment Group purchased a new stake in Wayfair in the third quarter worth $50,000. International Assets Investment Management LLC purchased a new position in Wayfair during the 2nd quarter valued at $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Wayfair during the 3rd quarter valued at $67,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on W. Mizuho dropped their target price on Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Guggenheim reissued a “buy” rating and set a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird decreased their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup cut their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

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.