Wayfair (NYSE:W) Director Steven Conine Sells 69,000 Shares

Wayfair Inc. (NYSE:W) Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction on Monday, September 14th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the transaction, the director owned 291,073 shares in the company, valued at approximately $30,085,305.28. This trade represents a 19.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Steven Conine sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00.

Wayfair Stock Performance

Shares of W stock opened at $103.49 on Thursday. The stock has a fifty day simple moving average of $97.45 and a two-hundred day simple moving average of $83.34. The firm has a market capitalization of $13.66 billion, a PE ratio of -42.07, a PEG ratio of 3.73 and a beta of 2.99. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. On average, sell-side analysts forecast that Wayfair Inc. will post 0.93 EPS for the current fiscal year.

Institutional Trading of Wayfair

A number of large investors have recently added to or reduced their stakes in the company. Havemeyer Place LP bought a new position in shares of Wayfair during the 4th quarter valued at approximately $39,000. Larson Financial Group LLC raised its stake in Wayfair by 36.2% during the fourth quarter. Larson Financial Group LLC now owns 708 shares of the company’s stock valued at $71,000 after purchasing an additional 188 shares in the last quarter. IFP Advisors Inc lifted its position in Wayfair by 79.2% during the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after purchasing an additional 358 shares during the last quarter. ABS Direct Equity Fund LLC bought a new position in Wayfair during the first quarter valued at $83,000. Finally, Parallel Advisors LLC grew its stake in shares of Wayfair by 18.6% in the 1st quarter. Parallel Advisors LLC now owns 1,661 shares of the company’s stock worth $125,000 after buying an additional 261 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC upped their price target on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $120.00 price objective on shares of Wayfair in a research report on Wednesday, August 5th. BMO Capital Markets upped their target price on shares of Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. UBS Group upped their target price on shares of Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Wedbush lifted their price target on shares of Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.89.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.