Steven Conine Sells 85,000 Shares of Wayfair (NYSE:W) Stock

Key Points

• Steven Conine sold 85,000 shares of Wayfair stock at an average price of $86.79, totaling approximately $7.38 million, representing an **18.52% decline** in his ownership stake.
• Wayfair's stock recently traded at $82.89, with a 12-month price range between **$20.41 and $91.77**, and a market cap of **$10.75 billion**.
• Analysts have varying opinions on Wayfair, with price targets ranging from **$25.00 to $96.00**, indicating a consensus rating of **"Moderate Buy."**

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 85,000 shares of Wayfair stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the transaction, the insider owned 374,073 shares in the company, valued at $32,465,795.67. This trade represents a 18.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, August 20th, Steven Conine sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00.
• On Wednesday, August 13th, Steven Conine sold 199,473 shares of Wayfair stock. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20.
• 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 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 shares were 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 transaction of $1,142,295.63.

Wayfair Price Performance

Shares of Wayfair stock traded down $0.16 during trading on Wednesday, hitting $82.89. 3,219,909 shares of the company's stock traded hands, compared to its average volume of 4,984,208. The firm's fifty day moving average price is $75.46 and its 200 day moving average price is $51.42. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $91.77. The company has a market cap of $10.75 billion, a PE ratio of -34.54 and a beta of 2.95.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share 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 the consensus estimate of $3.11 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on W. Royal Bank Of Canada increased their price objective on shares of Wayfair from $25.00 to $51.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 5th. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 price target on shares of Wayfair in a research report on Monday, August 4th. Canaccord Genuity Group raised their price target on shares of Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating on shares of Wayfair in a report on Tuesday, August 5th. Finally, Zelman & Associates raised their target price on shares of Wayfair from $85.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.15.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Wayfair by 111.7% in the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after acquiring an additional 276,471 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Wayfair in the first quarter valued at $452,000. 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 buying an additional 41,538 shares in 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 buying an additional 9,372 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Wayfair by 4.3% in the first quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock valued at $2,923,000 after buying an additional 3,725 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.