Insider Selling: Wayfair (NYSE:W) Insider Sells 85,000 Shares of Stock

Key Points

• Wayfair insider Steven Conine sold 85,000 shares at an average price of $82.85, totaling $7,042,250.00, which decreased his ownership by 22.72%.
• Wayfair's stock has experienced a 0.5% increase recently, currently trading at $81.32, and has a market cap of $10.54 billion.
• Analysts have varying views on Wayfair, with price targets ranging from $74.50 as a consensus to up to $105.00 from Citigroup, indicating a mix of "buy" and "hold" ratings among investment analysts.

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00. Following the sale, the insider directly owned 289,073 shares in the company, valued at $23,949,698.05. The trade was a 22.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, September 22nd, Steven Conine sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $86.79, for a total value of $7,377,150.00.
• On Wednesday, August 20th, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00.
• On Wednesday, August 13th, Steven Conine sold 199,473 shares of Wayfair stock. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20.
• On Thursday, August 7th, Steven Conine sold 17,752 shares of Wayfair stock. The shares were sold at an average price of $77.29, for a total transaction of $1,372,052.08.
• On Wednesday, August 6th, Steven Conine sold 7,775 shares of Wayfair stock. The shares were sold at an average price of $77.02, for a total transaction of $598,830.50.

Wayfair Stock Up 0.5%

Shares of W traded up $0.41 during trading hours on Wednesday, reaching $81.32. The stock had a trading volume of 2,465,129 shares, compared to its average volume of 4,789,793. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $91.77. The firm has a 50-day moving average of $82.27 and a 200 day moving average of $58.43. The company has a market cap of $10.54 billion, a P/E ratio of -33.88 and a beta of 3.03.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. Wayfair's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, equities analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

W has been the subject of a number of recent research reports. Zelman & Associates increased their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Gordon Haskett upgraded shares of Wayfair from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 4th. Zacks Research downgraded shares of Wayfair from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Citigroup raised their target price on shares of Wayfair from $93.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Wayfair in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in W. GAMMA Investing LLC increased its holdings in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the period. Ameritas Advisory Services LLC increased its holdings in shares of Wayfair by 304.3% during the first quarter. Ameritas Advisory Services LLC now owns 20,916 shares of the company's stock worth $672,000 after purchasing an additional 15,742 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Wayfair by 182.7% during the first quarter. Vontobel Holding Ltd. now owns 33,717 shares of the company's stock worth $1,080,000 after purchasing an additional 21,790 shares during the period. Summit Trail Advisors LLC bought a new position in shares of Wayfair during the first quarter worth approximately $320,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Wayfair during the first quarter worth approximately $443,000. 89.67% of the stock is owned by institutional investors.

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.

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