Insider Selling: Wayfair Inc. (NYSE:W) Insider Sells 21,963 Shares of Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 21,963 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.01, for a total value of $1,142,295.63. Following the transaction, the insider owned 417,110 shares of the company's stock, valued at $21,693,891.10. This trade represents a 5.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 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 value 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 value 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 shares were sold at an average price of $40.02, for a total value of $392,115.96.

Wayfair Stock Performance

W traded up $0.42 on Friday, hitting $56.88. 3,314,876 shares of the company were exchanged, compared to its average volume of 4,836,296. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $58.42. The company has a market cap of $7.30 billion, a PE ratio of -19.96 and a beta of 2.97. The stock's fifty day moving average is $42.50 and its 200-day moving average is $40.19.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. Wayfair's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. As a group, equities research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

W has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Loop Capital reissued a "sell" rating and issued a $35.00 target price on shares of Wayfair in a research note on Wednesday, May 14th. Guggenheim decreased their target price on Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wedbush raised Wayfair to a "hold" rating in a research note on Thursday, May 1st. Finally, Evercore ISI boosted their target price on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $45.67.

Hedge Funds Weigh In On Wayfair

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its position in Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Wayfair during the fourth quarter worth approximately $41,000. Finally, GAMMA Investing LLC grew its position in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after buying an additional 609 shares in the last quarter. Institutional investors and hedge funds 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.