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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $68.26, for a total transaction of $682,600.00. Following the transaction, the insider now owns 229,073 shares of the company’s stock, valued at approximately $15,636,522.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 Stock Up 7.0 %

Shares of W opened at $72.97 on Friday. The stock has a market cap of $8.78 billion, a PE ratio of -13.61 and a beta of 3.32. Wayfair Inc. has a 12-month low of $33.85 and a 12-month high of $90.71. The business has a 50-day simple moving average of $60.96 and a two-hundred day simple moving average of $55.85.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, equities research analysts expect that Wayfair Inc. will post -3.37 EPS for the current year.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in shares of Wayfair in the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wayfair in the fourth quarter valued at $29,000. GAMMA Investing LLC bought a new stake in Wayfair during the fourth quarter valued at $31,000. DekaBank Deutsche Girozentrale acquired a new stake in Wayfair during the 3rd quarter worth about $34,000. Finally, ORG Partners LLC bought a new position in shares of Wayfair in the 1st quarter worth about $37,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

W has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $70.00 target price on shares of Wayfair in a report on Friday, May 3rd. TD Cowen increased their price objective on Wayfair from $55.00 to $58.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Evercore ISI upgraded shares of Wayfair from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $80.00 in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Citigroup boosted their target price on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.29.

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.