Steven Conine Sells 60,000 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 60,000 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $56.02, for a total transaction of $3,361,200.00. Following the sale, the insider directly owned 169,073 shares in the company, valued at $9,471,469.46. This represents a 26.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 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 transaction 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 shares were 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 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 shares were 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 transaction of $392,115.96.

Wayfair Stock Up 3.6%

Shares of W traded up $2.28 during trading hours on Friday, reaching $65.35. 3,571,413 shares of the company traded hands, compared to its average volume of 5,114,924. The company's fifty day moving average price is $49.16 and its two-hundred day moving average price is $41.38. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of -22.93 and a beta of 2.97. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $65.42.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. The company's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. On average, analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Analyst Ratings Changes

W has been the topic of a number of research reports. BMO Capital Markets set a $38.00 target price on shares of Wayfair in a research note on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $61.00 target price (up from $46.00) on shares of Wayfair in a report on Friday, June 13th. Loop Capital reiterated a "sell" rating and issued a $35.00 target price on shares of Wayfair in a report on Wednesday, May 14th. Bank of America upped their target price on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft cut Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.38.

Institutional Trading of Wayfair

Hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC increased its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock worth $25,000 after buying an additional 381 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Wayfair during the 4th quarter worth $41,000. GAMMA Investing LLC boosted its position in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after buying an additional 1,097 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after acquiring an additional 617 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

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.