Insider Selling: Wayfair (NYSE:W) Insider Sells 199,473 Shares of Stock

Key Points

• Steven Conine, insider of Wayfair Inc. (NYSE:W), sold 199,473 shares of the company's stock on August 13th for a total of approximately $15.64 million, reducing his ownership by 26.83%.
• Wayfair reported an earnings per share (EPS) of $0.87 for the last quarter, significantly exceeding analysts' expectations of $0.33, with revenue growing by 5.0% year-over-year.
• Multiple analysts have raised their price targets for Wayfair, with Wells Fargo setting a target of $84.00 and BMO Capital Markets increasing theirs to $68.00, reflecting positive sentiment around the stock.

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 199,473 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This trade represents a 26.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 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 transaction of $598,830.50.
• 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 stock was 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 value of $9,515,792.37.
• On Monday, June 30th, Steven Conine sold 21,963 shares of Wayfair stock. The shares were 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.

Wayfair Stock Performance

W stock traded up $1.0270 during trading on Wednesday, reaching $79.9770. 7,901,832 shares of the company traded hands, compared to its average volume of 4,995,665. The business has a 50 day simple moving average of $61.06 and a 200 day simple moving average of $44.86. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $81.94. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of -33.32 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on W. Mizuho raised their target price on shares of Wayfair from $50.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Wells Fargo & Company set a $84.00 price objective on Wayfair and gave the company an "overweight" rating in a report on Tuesday, August 5th. Wedbush reissued a "neutral" rating on shares of Wayfair in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus set a $68.00 target price on Wayfair and gave the company a "hold" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $67.65.

Institutional Trading of Wayfair

Several large investors have recently bought and sold shares of W. Sterling Capital Management LLC raised its holdings in Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock valued at $250,000 after acquiring an additional 2,116 shares during the last quarter. LPL Financial LLC grew its position in shares of 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. GAMMA Investing LLC increased its holdings in shares of Wayfair by 5,850.4% in the first quarter. GAMMA Investing LLC now owns 42,248 shares of the company's stock valued at $1,319,000 after purchasing an additional 41,538 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Wayfair by 74.4% in the first quarter. SG Americas Securities LLC now owns 21,963 shares of the company's stock valued at $703,000 after purchasing an additional 9,372 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Wayfair by 11.4% during the fourth quarter. Northern Trust Corp now owns 463,457 shares of the company's stock worth $20,540,000 after buying an additional 47,326 shares in the last quarter. Hedge funds and other institutional investors 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.