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Wayfair (NASDAQ:NYSE:W) co-founder Steven Conine sold 59,900 shares of Class A Common Stock on July 21, 2025, for approximately $3.36 million. The sale comes as Wayfair’s stock trades near its 52-week high of $63.80, having gained over 13% in the past week alone. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The sales were executed in multiple transactions with prices ranging from $55.70 to $57.27. Specifically, 25,909 shares were sold at prices between $55.06 and $56.04, 33,891 shares were sold at prices ranging from $56.05 to $56.96 and 200 shares were sold at $57.27.
Following the transactions, Conine directly owns 169,073 shares of Wayfair Class A Common Stock. Conine also indirectly owns 22,857 shares through SK Ventures LLC.
The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 15, 2024.
In other recent news, Wayfair announced a "Black Friday in July" sale event, offering discounts of up to 80% from July 24-28. This five-day sale will feature 24-hour flash deals and limited-quantity doorbusters, with additional savings for Wayfair Rewards members. In terms of analyst activity, Morgan Stanley (NYSE:MS) raised its price target for Wayfair to $70, citing an improved outlook and maintaining an Overweight rating. Jefferies also increased its price target to $60, highlighting Wayfair’s market share gains, which have shown three consecutive months of web traffic improvements. Piper Sandler adjusted its price target to $61 due to increasing demand in the home furnishings sector, supported by positive sales data from their May Mattress Retailers Survey. Meanwhile, Mizuho (NYSE:MFG) reiterated its Outperform rating and $50 price target, noting a new fulfillment initiative by Wayfair that resembles services offered by Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT). These developments reflect a series of strategic moves and positive assessments from analysts.
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