Key Points
- Wayfair director Steven Conine sold 69,000 shares for approximately $7.13 million at an average price of $103.36, reducing his ownership by 16.08% to 360,073 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Wayfair’s latest quarterly results exceeded expectations, with earnings of $0.95 per share versus the $0.90 consensus estimate and revenue of $3.52 billion, up 7.5% year over year.
- Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $119.70; the company is also pursuing physical retail expansion with a planned Pittsburgh store.
Wayfair Inc. (NYSE:W - Get Free Report) Director Steven Conine sold 69,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the director owned 360,073 shares in the company, valued at approximately $37,217,145.28. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wayfair Price Performance
Shares of W stock opened at $101.59 on Friday. The firm has a fifty day moving average price of $90.52 and a 200-day moving average price of $81.71. Wayfair Inc. has a 1 year low of $55.60 and a 1 year high of $119.98. The company has a market cap of $13.41 billion, a price-to-earnings ratio of -41.30, a PEG ratio of 4.48 and a beta of 2.99.
Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Wayfair Inc. will post 0.75 EPS for the current year.
Key Stories Impacting Wayfair
Here are the key news stories impacting Wayfair this week:
- Positive Sentiment: Physical retail expansion: Wayfair plans to open Pennsylvania’s first physical retail location in Pittsburgh. The store could help customers see products in person, support brand awareness and complement the company’s online marketplace. Wayfair to open Pennsylvania's first physical retail location in Pittsburgh
- Positive Sentiment: Stores viewed as potential growth engine: Commentary suggests Wayfair’s physical-retail strategy is emerging as a possible long-term growth driver, potentially broadening customer reach and improving product discovery beyond its digital platform. Wayfair’s physical retail emerging as growth engine
- Neutral Sentiment: Promotional activity remains prominent: Wayfair was featured in end-of-summer clearance coverage, including discounts on fire pits, fire tables and home products. Promotions may stimulate near-term orders and clear inventory, but could also pressure margins. Final summer clearance savings from Saatva, Wayfair, REI and more
- Negative Sentiment: CEO and director sales: CEO Niraj Shah and director Steven Conine each sold 69,000 shares at an average of $103.36, reducing their individual holdings by about 16%. The transactions were made under pre-arranged Rule 10b5-1 trading plans, which lessens—but does not eliminate—the negative signaling risk. CEO insider sale filing
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Wayfair from $100.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $120.00 price target on shares of Wayfair in a report on Wednesday, August 5th. Wedbush upped their target price on Wayfair from $85.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Evercore reaffirmed an "outperform" rating and set a $130.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. Finally, BMO Capital Markets boosted their price target on Wayfair from $105.00 to $115.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $119.70.
Read Our Latest Stock Report on Wayfair
Institutional Investors Weigh In On Wayfair
Several institutional investors and hedge funds have recently made changes to their positions in W. Capital World Investors boosted its holdings in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company's stock valued at $1,351,237,000 after purchasing an additional 82,584 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company's stock worth $967,426,000 after acquiring an additional 72,707 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company's stock worth $542,950,000 after purchasing an additional 180,558 shares in the last quarter. Janus Henderson Group PLC raised its stake in Wayfair by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company's stock valued at $290,813,000 after purchasing an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Wayfair by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company's stock valued at $283,724,000 after purchasing an additional 8,598 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.
Wayfair Company Profile
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Get Free Report)
Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.
Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.
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