Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 9,798 Shares of Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 9,798 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $40.02, for a total transaction of $392,115.96. Following the sale, the insider now owns 549,275 shares in the company, valued at approximately $21,981,985.50. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, February 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $46.33, for a total transaction of $1,389,900.00.

Wayfair Stock Performance

Shares of W stock opened at $38.12 on Thursday. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $74.49. The stock has a market capitalization of $4.84 billion, a P/E ratio of -9.48 and a beta of 2.93. The company has a 50 day moving average price of $30.92 and a 200 day moving average price of $40.05.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the firm earned ($0.32) EPS. The company's revenue was up .0% on a year-over-year basis. On average, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in Wayfair by 18,338.6% during the 1st quarter. MetLife Investment Management LLC now owns 308,478 shares of the company's stock worth $9,881,000 after acquiring an additional 306,805 shares in the last quarter. Credit Agricole S A boosted its holdings in shares of Wayfair by 255.9% in the 1st quarter. Credit Agricole S A now owns 18,534 shares of the company's stock valued at $594,000 after buying an additional 13,327 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Wayfair by 57.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 45,562 shares of the company's stock valued at $1,482,000 after buying an additional 16,535 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Wayfair by 235.2% in the 1st quarter. Hsbc Holdings PLC now owns 25,095 shares of the company's stock valued at $804,000 after buying an additional 17,608 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Wayfair in the 1st quarter valued at $869,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the company an "overweight" rating in a research report on Friday, February 21st. BMO Capital Markets set a $38.00 target price on shares of Wayfair in a research report on Friday, May 2nd. Guggenheim decreased their price target on shares of Wayfair from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Citigroup raised their price target on shares of Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.83.

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.

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