Steven Conine Sells 180,943 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 180,943 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the transaction, the insider directly owned 236,167 shares in the company, valued at $12,420,022.53. This trade represents a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 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 stock was 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 shares were 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 Wayfair stock traded up $4.28 during trading hours on Wednesday, reaching $56.27. 8,272,225 shares of the company were exchanged, compared to its average volume of 4,821,279. The firm has a market cap of $7.22 billion, a PE ratio of -19.74 and a beta of 2.97. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $58.42. The stock's fifty day moving average is $40.84 and its 200 day moving average is $39.99.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter last year, the company earned ($0.32) EPS. Wayfair's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on W. Evercore ISI increased their price objective on Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Morgan Stanley increased their price target on Wayfair from $50.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $61.00 price objective (up from $46.00) on shares of Wayfair in a research report on Friday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $63.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Bank of America increased their target price on shares of Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

Institutional Trading of Wayfair

Several hedge funds have recently added to or reduced their stakes in W. Vanguard Group Inc. boosted its position in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after acquiring an additional 327,603 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Wayfair by 60.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after acquiring an additional 2,116 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Wayfair by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock worth $44,733,000 after purchasing an additional 35,057 shares during the last quarter. LPL Financial LLC boosted its holdings in Wayfair by 218.2% in the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after purchasing an additional 26,390 shares in the last quarter. Finally, Norges Bank acquired a new position in Wayfair in the fourth quarter valued at approximately $31,472,000. Institutional investors and hedge funds own 89.67% of the company's stock.

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.

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