Wayfair Inc. (NYSE:W) Insider Sells $2,953,038.00 in Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 73,095 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $40.40, for a total transaction of $2,953,038.00. Following the completion of the transaction, the insider now owns 469,073 shares in the company, valued at $18,950,549.20. This represents a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 14th, Steven Conine sold 2,246 shares of Wayfair stock. The stock was sold at an average price of $40.01, for a total transaction of $89,862.46.
• On Tuesday, May 13th, Steven Conine sold 4,861 shares of Wayfair stock. The shares were sold at an average price of $40.12, for a total transaction of $195,023.32.
• On Monday, May 12th, Steven Conine sold 9,798 shares of Wayfair stock. The shares were sold at an average price of $40.02, for a total transaction of $392,115.96.

Wayfair Trading Down 3.5%

Wayfair stock traded down $1.50 during midday trading on Friday, hitting $41.28. The stock had a trading volume of 4,275,649 shares, compared to its average volume of 4,770,546. The firm's fifty day moving average is $32.29 and its two-hundred day moving average is $39.86. The company has a market capitalization of $5.30 billion, a PE ratio of -10.27 and a beta of 2.93. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $62.43.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. The company's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.32) earnings per share. As a group, equities research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. SG Americas Securities LLC increased its holdings in Wayfair by 277.4% in the 4th quarter. SG Americas Securities LLC now owns 12,591 shares of the company's stock worth $558,000 after acquiring an additional 9,255 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Wayfair in the 4th quarter worth approximately $220,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wayfair by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 206,661 shares of the company's stock worth $9,221,000 after purchasing an additional 45,138 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Wayfair in the 4th quarter worth approximately $48,000. Finally, Vontobel Holding Ltd. boosted its stake in Wayfair by 118.8% in the 4th quarter. Vontobel Holding Ltd. now owns 11,927 shares of the company's stock worth $529,000 after purchasing an additional 6,477 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on W. Zelman & Associates began coverage on shares of Wayfair in a report on Thursday, May 15th. They issued an "outperform" rating on the stock. BMO Capital Markets set a $38.00 target price on shares of Wayfair in a report on Friday, May 2nd. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Monday, May 12th. Stifel Nicolaus dropped their target price on shares of Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $25.00 target price on shares of Wayfair in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

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.