Wayfair Inc. (NYSE:W) Insider Steven Conine Sells 17,752 Shares

Key Points

• Insider Steven Conine sold 17,752 shares of Wayfair Inc. at an average price of $77.29, reducing his ownership by 11.01% and leaving him with 143,546 shares.
• Wayfair's stock experienced a trading volume of approximately 2.95 million shares and closed at $72.29, which reflects a strong movement compared to its average trading volume of 5.17 million shares.
• In its latest earnings report, Wayfair recorded earnings per share (EPS) of $0.87, exceeding expectations, with a revenue of $3.27 billion—a 5% increase year-over-year.

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 17,752 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $77.29, for a total value of $1,372,052.08. Following the completion of the transaction, the insider directly owned 143,546 shares of the company's stock, valued at approximately $11,094,670.34. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $598,830.50.
• On Monday, July 21st, Steven Conine sold 60,000 shares of Wayfair stock. The stock was sold at an average price of $56.02, for a total value 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 value 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 value 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 value of $1,142,295.63.
• On Friday, June 20th, Steven Conine sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $49.43, for a total value of $1,482,900.00.
• On Tuesday, May 27th, Steven Conine sold 73,095 shares of Wayfair stock. The stock was sold at an average price of $40.40, for a total value 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 value 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 value of $195,023.32.
• On Monday, May 12th, Steven Conine sold 9,798 shares of Wayfair stock. The stock was sold at an average price of $40.02, for a total value of $392,115.96.

Wayfair Price Performance

W traded up $2.82 on Tuesday, reaching $74.58. 1,677,017 shares of the company traded hands, compared to its average volume of 5,126,843. The stock's 50 day moving average price is $56.50 and its 200-day moving average price is $43.36. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $78.06. The company 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 issued its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on W shares. Loop Capital restated a "sell" rating and set a $35.00 price target on shares of Wayfair in a report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating and set a $95.00 price target on shares of Wayfair in a report on Monday, August 4th. UBS Group raised their price objective on Wayfair from $80.00 to $91.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Citigroup raised Wayfair from a "neutral" rating to a "buy" rating and raised their price target for the stock from $32.00 to $93.00 in a research note on Tuesday, August 5th. Finally, Needham & Company LLC raised their price target on Wayfair from $40.00 to $83.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC grew its holdings in Wayfair by 218.2% during the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company's stock worth $1,706,000 after purchasing an additional 26,390 shares during the period. Geode Capital Management LLC raised its position in Wayfair by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock valued at $68,584,000 after purchasing an additional 22,078 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Wayfair by 148.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company's stock valued at $752,000 after purchasing an additional 10,152 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Wayfair during the fourth quarter worth $41,000. Finally, Treasurer of the State of North Carolina raised its position in Wayfair by 2.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock worth $1,857,000 after purchasing an additional 920 shares during the last quarter. 89.67% of the stock is currently 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.