Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells $1,269,300.00 in Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the sale, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This represents a 14.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Wayfair Trading Up 3.3 %

Shares of W opened at $44.03 on Monday. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18. The firm has a fifty day simple moving average of $47.86 and a 200 day simple moving average of $50.72. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.38) EPS. As a group, research analysts predict that Wayfair Inc. will post -2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on W. StockNews.com lowered Wayfair from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James decreased their target price on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays decreased their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada cut their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.28.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of W. Vanguard Group Inc. raised its stake in shares of Wayfair by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares in the last quarter. Highland Peak Capital LLC acquired a new position in Wayfair during the second quarter worth $5,165,000. Sei Investments Co. raised its position in Wayfair by 32.8% during the second quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock worth $7,035,000 after acquiring an additional 32,968 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Wayfair in the second quarter valued at $8,189,000. Finally, Caxton Associates LP bought a new position in shares of Wayfair in the 1st quarter valued at about $1,164,000. 89.67% of the stock is currently owned by institutional investors.

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.