Wayfair (NYSE:W) Insider Steven Conine Sells 120,000 Shares

Key Points

• Steven Conine, an insider at Wayfair, sold 120,000 shares of the company on October 23rd for around $9.86 million, reducing his ownership by 41.51%.
• Wayfair recently reported earnings with an EPS of $0.87, exceeding analyst estimates, and a 5% increase in quarterly revenue compared to the previous year.
• The stock currently has a moderate buy rating from analysts, with a consensus target price of $76.88, highlighting positive investor sentiment.

Wayfair Inc. (NYSE:W - Get Free Report) insider Steven Conine sold 120,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the transaction, the insider owned 169,073 shares of the company's stock, valued at approximately $13,892,728.41. The trade was a 41.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, October 20th, Steven Conine sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total transaction of $7,042,250.00.
• On Monday, September 22nd, Steven Conine sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00.
• 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 stock was sold at an average price of $77.02, for a total transaction of $598,830.50.

Wayfair Trading Up 0.0%

Shares of Wayfair stock traded up $0.00 on Friday, reaching $83.12. The stock had a trading volume of 3,049,452 shares, compared to its average volume of 4,771,600. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $91.77. The company has a market cap of $10.78 billion, a P/E ratio of -34.63 and a beta of 3.03. The business's 50 day moving average is $82.48 and its two-hundred day moving average is $59.38.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.11 billion. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Global Retirement Partners LLC raised its stake in shares of Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company's stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Wayfair by 3.0% in the second quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company's stock worth $352,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Wayfair by 250.5% in the third quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Wayfair by 12.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company's stock worth $126,000 after purchasing an additional 270 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Wayfair by 5.5% in the second quarter. Amalgamated Bank now owns 5,348 shares of the company's stock worth $273,000 after purchasing an additional 278 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Wayfair in a research note on Tuesday, August 5th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price on shares of Wayfair in a research note on Wednesday, August 27th. Stifel Nicolaus raised their target price on shares of Wayfair from $68.00 to $80.00 and gave the company a "hold" rating in a research note on Friday. Jefferies Financial Group raised their target price on shares of Wayfair from $91.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group raised their target price on shares of Wayfair from $31.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.88.

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.

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