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 on 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 $12,647,120.33. This trade represents a 3.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 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 Up 4.2%

Shares of Wayfair stock traded up $2.40 on Thursday, hitting $58.97. 5,607,067 shares of the company were exchanged, compared to its average volume of 4,867,228. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -20.69 and a beta of 2.97. The company has a 50-day moving average price of $43.99 and a 200 day moving average price of $40.41. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $59.50.

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

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. True Wealth Design LLC increased its position in shares of Wayfair by 207.1% during the fourth 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 period. Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after buying an additional 502 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Wayfair in the fourth quarter valued at $41,000. GAMMA Investing LLC increased its holdings in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after buying an additional 609 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Wayfair by 229.0% in the second 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 last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analysts Set New Price Targets

W has been the subject of a number of recent research reports. Zelman & Associates lifted their price objective on Wayfair from $55.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday. Royal Bank Of Canada reiterated a "sector perform" rating and set a $25.00 price objective on shares of Wayfair in a research note on Friday, April 25th. Citigroup lifted their price target on Wayfair from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group cut their price target on Wayfair from $68.00 to $58.00 and set a "buy" rating for the company in a research note on Monday, April 28th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.72.

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.