Steven Conine Sells 26,000 Shares of Wayfair Inc (W) Stock

Wayfair Inc (NYSE:W) insider Steven Conine sold 26,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $137.11, for a total transaction of $3,564,860.00. Following the transaction, the insider now directly owns 48,538 shares in the company, valued at approximately $6,655,045.18. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

  • On Wednesday, September 26th, Steven Conine sold 26,000 shares of Wayfair stock. The stock was sold at an average price of $138.02, for a total transaction of $3,588,520.00.
  • On Wednesday, August 15th, Steven Conine sold 1,145 shares of Wayfair stock. The stock was sold at an average price of $121.19, for a total transaction of $138,762.55.
  • On Monday, August 13th, Steven Conine sold 17,000 shares of Wayfair stock. The stock was sold at an average price of $123.00, for a total transaction of $2,091,000.00.
  • On Monday, August 6th, Steven Conine sold 14,000 shares of Wayfair stock. The stock was sold at an average price of $112.97, for a total transaction of $1,581,580.00.
  • On Monday, July 30th, Steven Conine sold 14,000 shares of Wayfair stock. The shares were sold at an average price of $113.85, for a total transaction of $1,593,900.00.
  • On Tuesday, July 10th, Steven Conine sold 14,200 shares of Wayfair stock. The shares were sold at an average price of $120.01, for a total transaction of $1,704,142.00.
  • On Monday, June 18th, Steven Conine sold 5,166 shares of Wayfair stock. The shares were sold at an average price of $111.42, for a total transaction of $575,595.72.

W traded down $0.27 on Friday, hitting $132.90. The company’s stock had a trading volume of 752,771 shares, compared to its average volume of 1,696,549. The company has a market cap of $13.24 billion, a PE ratio of -47.46 and a beta of 1.51. Wayfair Inc has a 12 month low of $55.33 and a 12 month high of $151.20. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of -2.47.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by ($0.04). The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted ($0.26) earnings per share. Wayfair’s revenue for the quarter was up 47.4% on a year-over-year basis. Research analysts forecast that Wayfair Inc will post -5.17 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Engineers Gate Manager LP bought a new position in Wayfair in the 2nd quarter valued at $208,000. Peregrine Asset Advisers Inc. bought a new position in Wayfair in the 2nd quarter valued at $214,000. World Asset Management Inc bought a new position in Wayfair in the 2nd quarter valued at $214,000. Comerica Bank bought a new position in Wayfair in the 2nd quarter valued at $255,000. Finally, BB&T Securities LLC bought a new position in Wayfair in the 2nd quarter valued at $298,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

W has been the subject of several analyst reports. Loop Capital set a $155.00 price objective on shares of Wayfair and gave the company a “buy” rating in a research note on Monday, September 10th. Canaccord Genuity reiterated a “buy” rating and issued a $165.00 price objective (up previously from $140.00) on shares of Wayfair in a research note on Friday, September 28th. Oppenheimer raised their price target on shares of Wayfair to $120.00 and gave the stock an “outperform” rating in a research note on Friday, June 8th. Buckingham Research raised their price target on shares of Wayfair from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, MKM Partners raised their price target on shares of Wayfair from $130.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Wayfair currently has an average rating of “Hold” and an average target price of $125.25.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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