Wayfair Inc. reported an insider sale by its co-founder Steven Conine on February 23, 2026, when he sold 89,670 shares of Class A common stock for approximately $6.9 million. The shares transacted at prices between $73.76 and $80.95, according to a company filing.
The disposition was carried out under a 10b5-1 trading arrangement that Conine adopted on May 29, 2025. After the trades, Conine's direct holdings of Wayfair Class A common stock stand at 196,023 shares, with an additional 22,857 shares held indirectly.
Coninexecuted the sales while Wayfairquity has been experiencing short-term pressure. The stock declined 17% over the prior week, though it remains 77% higher than it was a year earlier. At a reported trading price of $75.75, InvestingPro's analysis characterizes the stock as appearing overvalued.
On the company fundamentals front, analysts are anticipating profitability for Wayfair this year, and 13 analysts have revised earnings estimates upward for the upcoming period. The company also produces its own periodic research and InvestingPro offers a Pro Research Report that covers Wayfair and more than 1,400 other U.S. equities for readers seeking further detail.
Wayfair's recent operating performance included fourth-quarter results that beat expectations on both revenue and EBITDA. Revenue grew 8% on an ex-Germany basis, excluding the company's exit from that market. Management provided guidance consistent with Wall Street estimates, forecasting mid-single-digit percentage growth for the first quarter, a figure the company noted was below consensus.
Market participants and Wall Street analysts have reacted with a mix of adjustments to price targets and maintained ratings:
- Bernstein SocGen Group trimmed its price target to $100 from $105 while keeping a Market Perform rating, citing steady progress toward growth and EBITDA targets.
- Stifel reduced its target to $89 from $100 and maintained a Hold rating, pointing to mixed results.
- Truist Securities lowered its price objective to $105 from $120 and kept a Buy rating, expressing concerns over the margin outlook.
- RBC Capital raised its target to $92 from $86, noting strong fourth-quarter results but a muted category outlook.
- Piper Sandler reiterated an Overweight rating and a $125 price target, calling out accelerated market share gains alongside a conservative first-quarter outlook.
The insider sale, the recent quarterly beat, and the mixed analyst responses together paint a nuanced picture for investors assessing Wayfair's near-term trajectory. Conine's sale followed a pre-set trading plan and leaves him with significant direct and indirect stakes in the company. Meanwhile, the firm ontinues to forecast modest near-term growth while some analysts adjust expectations on valuation and margin performance.
Summary: Steven Conine sold 89,670 Wayfair Class A shares on February 23, 2026, under a 10b5-1 plan for about $6.9 million. The stock has been volatile recently, trading at $75.75 and labeled overvalued by InvestingPro. Wayfair reported a better-than-expected fourth quarter, guided to mid-single-digit first-quarter growth, and received mixed analyst reactions on price targets and ratings.