Wayfair Inc. (NYSE:W) Insider Steven Conine Sells 7,775 Shares

Key Points

• Wayfair Inc. insider Steven Conine sold 7,775 shares on August 6th at an average price of $77.02, totaling approximately $598,830.50, resulting in a 4.60% decrease in his ownership stake.
• The company's stock traded at $72.29 with a market capitalization of $9.28 billion, while showing a P/E ratio of -30.12 and a beta of 2.92.
• Wayfair recently reported $0.87 earnings per share, significantly exceeding analysts' expectations of $0.33, along with revenues of $3.27 billion, surpassing estimates of $3.11 billion.

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 7,775 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $77.02, for a total transaction of $598,830.50. Following the completion of the sale, the insider directly owned 161,298 shares in the company, valued at approximately $12,423,171.96. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 7th, Steven Conine sold 17,752 shares of Wayfair stock. The stock was sold at an average price of $77.29, for a total transaction of $1,372,052.08.
• On Monday, July 21st, Steven Conine sold 60,000 shares of Wayfair stock. The shares were sold at an average price of $56.02, for a total transaction of $3,361,200.00.
• On Wednesday, July 2nd, Steven Conine sold 7,094 shares of Wayfair stock. The shares were sold at an average price of $55.21, for a total transaction of $391,659.74.
• On Tuesday, July 1st, Steven Conine sold 180,943 shares of Wayfair stock. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37.
• On Monday, June 30th, Steven Conine sold 21,963 shares of Wayfair stock. The stock was sold at an average price of $52.01, for a total transaction of $1,142,295.63.
• On Friday, June 20th, Steven Conine sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $49.43, for a total transaction of $1,482,900.00.
• On Tuesday, May 27th, Steven Conine sold 73,095 shares of Wayfair stock. The shares were sold at an average price of $40.40, for a total transaction of $2,953,038.00.
• 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 stock was 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 Stock Performance

Shares of NYSE W traded up $2.82 during mid-day trading on Tuesday, reaching $74.58. The company had a trading volume of 1,677,017 shares, compared to its average volume of 5,126,843. Wayfair Inc. has a one year low of $20.41 and a one year high of $78.06. The business's 50-day simple moving average is $56.50 and its 200 day simple moving average is $43.36. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of -31.07 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Institutional Trading of Wayfair

Institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. increased its stake in Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP increased its position in Wayfair by 100.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock worth $124,096,000 after buying an additional 1,400,000 shares in the last quarter. Capital World Investors grew its position in shares of Wayfair by 6.2% during the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Beck Bode LLC purchased a new stake in shares of Wayfair during the first quarter worth about $13,322,000. Finally, Benchstone Capital Management LP bought a new position in Wayfair during the fourth quarter valued at approximately $16,149,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on W shares. Argus raised shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Monday, May 12th. Bank of America upped their price objective on shares of Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Wedbush reissued a "neutral" rating on shares of Wayfair in a report on Tuesday, August 5th. Wells Fargo & Company set a $84.00 target price on Wayfair and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Finally, Evercore ISI raised their target price on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.96.

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.