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

Wayfair Inc. (NYSE:W) insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $68.26, for a total value of $682,600.00. Following the transaction, the insider now directly owns 229,073 shares of the company’s stock, valued at approximately $15,636,522.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 Trading Down 1.9 %

Shares of W stock traded down $1.34 during trading hours on Wednesday, reaching $68.21. The company’s stock had a trading volume of 4,353,034 shares, compared to its average volume of 4,538,904. Wayfair Inc. has a one year low of $33.85 and a one year high of $90.71. The stock has a market capitalization of $8.21 billion, a P/E ratio of -12.73 and a beta of 3.32. The firm’s fifty day simple moving average is $60.70 and its 200 day simple moving average is $55.73.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts forecast that Wayfair Inc. will post -3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wayfair

A number of institutional investors have recently bought and sold shares of W. Riverview Trust Co bought a new stake in shares of Wayfair during the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Wayfair during the 4th quarter valued at about $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair in the fourth quarter worth approximately $31,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Wayfair during the third quarter valued at approximately $34,000. Finally, ORG Partners LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $37,000. 89.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on W. Morgan Stanley restated an “overweight” rating and set a $80.00 target price on shares of Wayfair in a research report on Monday, March 25th. Stifel Nicolaus lifted their target price on shares of Wayfair from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $65.00 to $80.00 in a report on Thursday, April 4th. StockNews.com downgraded shares of Wayfair from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Raymond James raised Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.