Wayfair Inc. (NYSE:W) Insider Steven Conine Sells 10,000 Shares of Stock

Wayfair Inc. (NYSE:W) insider Steven Conine sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total value of $682,600.00. Following the completion of the sale, the insider now owns 229,073 shares of the company’s stock, valued at approximately $15,636,522.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, February 9th, Steven Conine sold 8,300 shares of Wayfair stock. The stock was sold at an average price of $52.31, for a total transaction of $434,173.00.

Wayfair Price Performance

W opened at $68.21 on Thursday. The firm has a market cap of $8.21 billion, a P/E ratio of -12.73 and a beta of 3.32. Wayfair Inc. has a 1-year low of $33.85 and a 1-year high of $90.71. The company has a 50 day simple moving average of $60.70 and a two-hundred day simple moving average of $55.73.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Equities analysts anticipate that Wayfair Inc. will post -3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wedbush reissued an “outperform” rating and issued a $70.00 target price on shares of Wayfair in a report on Friday, May 3rd. Loop Capital lifted their price target on Wayfair from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Wayfair in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.29.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in W. Capital World Investors grew its position in shares of Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares in the last quarter. Vanguard Group Inc. grew its holdings in Wayfair by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after buying an additional 273,652 shares in the last quarter. Atreides Management LP grew its holdings in Wayfair by 1.8% during the 3rd quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after buying an additional 16,932 shares in the last quarter. Norges Bank bought a new stake in Wayfair in the 4th quarter worth approximately $47,374,000. Finally, Wellington Management Group LLP raised its holdings in shares of Wayfair by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 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.