Key Points
- Wayfair Director Steven Conine sold 69,000 shares at an average price of $105.75, totaling $7.30 million. The Rule 10b5-1 transaction reduced his direct ownership by 23.71%, leaving him with 222,073 shares.
- Wayfair’s latest quarterly results exceeded expectations, with adjusted EPS of $0.95 versus the $0.90 consensus and revenue of $3.52 billion, up 7.5% year over year.
- Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and an average price target of $120.93; institutional investors own approximately 89.67% of the shares.
Wayfair Inc. (NYSE:W - Get Free Report) Director Steven Conine sold 69,000 shares of the company's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $105.75, for a total value of $7,296,750.00. Following the completion of the transaction, the director directly owned 222,073 shares in the company, valued at approximately $23,484,219.75. The trade was a 23.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Steven Conine also recently made the following trade(s):
- On Monday, September 14th, Steven Conine sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00.
- On Wednesday, August 12th, Steven Conine sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00.
Wayfair Trading Down 2.9%
W stock opened at $104.82 on Thursday. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98. The company has a market capitalization of $13.84 billion, a P/E ratio of 220.39, a PEG ratio of 3.88 and a beta of 3.02. The firm has a 50 day simple moving average of $102.34 and a 200-day simple moving average of $87.16.
Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, research analysts predict that Wayfair Inc. will post 0.93 EPS for the current year.
Key Headlines Impacting Wayfair
Here are the key news stories impacting Wayfair this week:
- Positive Sentiment: Perigold launches loyalty program: Wayfair’s luxury-home brand introduced Perigold Insider, offering members 10% back in rewards on eligible purchases. The program could support repeat purchases, customer retention and growth in the higher-end home-furnishings market, although the rewards may also pressure margins. Introducing Perigold Insider, an Elevated Loyalty Program Designed for Luxury Home
- Neutral Sentiment: Routine promotional coverage: Articles highlighting discounts on Wayfair products, including furniture and seasonal décor, may increase near-term visibility and shopping interest but do not provide material information about revenue, profitability or guidance. Wayfair cat tree promotion Wayfair lamp promotion
- Negative Sentiment: CEO and director sold substantial stakes: CEO Niraj Shah and Director Steven Conine each sold 69,000 shares at an average price of $105.75, reducing their direct holdings by roughly 24% apiece. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, which makes them less indicative of a discretionary bearish view, but the combined $14.6 million in sales can still weigh on sentiment.
- Negative Sentiment: Reported UK consumer-protection penalty: Wayfair was reportedly among companies fined as part of a combined £6 million penalty involving alleged misleading “sale” pricing and hidden fees. The report raises concerns about regulatory compliance, customer trust and potential reputational costs. Wayfair, Appliances Direct and Gold’s Gym fined for misleading sales practices
Institutional Investors Weigh In On Wayfair
Several institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Wayfair by 23,901.7% during the first quarter. Assenagon Asset Management S.A. now owns 575,800 shares of the company's stock worth $43,306,000 after purchasing an additional 573,401 shares during the last quarter. Atreides Management LP boosted its holdings in Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company's stock worth $107,625,000 after purchasing an additional 560,133 shares during the period. Dimensional Fund Advisors LP increased its stake in Wayfair by 46.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company's stock valued at $77,923,000 after purchasing an additional 328,358 shares during the last quarter. Janus Henderson Group PLC increased its stake in Wayfair by 8.3% during the first 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, Moore Capital Management LP bought a new stake in Wayfair during the fourth quarter valued at $19,828,000. 89.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on W. JPMorgan Chase & Co. boosted their target price on shares of Wayfair from $105.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. TD Cowen increased their price target on shares of Wayfair from $75.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $120.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Needham & Company LLC lifted their price target on Wayfair from $83.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price target on Wayfair from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.93.
View Our Latest Stock Report on W
Wayfair Company Profile
(
Get Free Report)
Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.
Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.
Further Reading
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