Steven Conine Sells 7,094 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 7,094 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $55.21, for a total value of $391,659.74. Following the completion of the transaction, the insider owned 229,073 shares of the company's stock, valued at approximately $12,647,120.33. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 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.
• 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 stock was 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 value of $392,115.96.

Wayfair Price Performance

W stock traded down $0.80 during midday trading on Tuesday, hitting $54.23. The stock had a trading volume of 1,132,136 shares, compared to its average volume of 4,836,534. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $58.42. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -19.03 and a beta of 2.97. The business has a 50-day moving average of $42.98 and a two-hundred day moving average of $40.20.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The business 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% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) earnings per share. Research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on W. BMO Capital Markets set a $38.00 target price on Wayfair in a research report on Friday, May 2nd. Citigroup lifted their price target on Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. TD Cowen raised Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Stifel Nicolaus decreased their price target on Wayfair from $46.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price target (up from $50.00) on shares of Wayfair in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in 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 acquiring an additional 381 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Wayfair during the 4th quarter valued at about $41,000. GAMMA Investing LLC increased its holdings in Wayfair by 85.8% in the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after buying an additional 609 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after buying an additional 1,097 shares during the period. 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.