Wayfair (NYSE:W) CEO Niraj Shah Sells 93,000 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 93,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $74.63, for a total value of $6,940,590.00. Following the completion of the sale, the chief executive officer directly owned 196,137 shares in the company, valued at $14,637,704.31. This represents a 32.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Niraj Shah also recently made the following trade(s):

• On Friday, January 23rd, Niraj Shah sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $108.87, for a total value of $16,330,500.00.
• On Friday, December 26th, Niraj Shah sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $102.32, for a total transaction of $3,069,600.00.
• On Tuesday, December 23rd, Niraj Shah sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $100.27, for a total transaction of $12,032,400.00.

Wayfair Stock Up 2.5%

NYSE W traded up $1.85 on Wednesday, hitting $75.76. 3,944,166 shares of the stock were exchanged, compared to its average volume of 3,821,263. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $119.98. The company has a 50-day moving average price of $100.63 and a 200-day moving average price of $93.78. The company has a market cap of $9.88 billion, a PE ratio of -31.18, a PEG ratio of 6.97 and a beta of 3.36.

Analyst Ratings Changes

A number of brokerages have issued reports on W. The Goldman Sachs Group set a $92.00 price target on Wayfair in a report on Friday, February 20th. Wall Street Zen cut Wayfair from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley increased their price target on shares of Wayfair from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. UBS Group reissued a “buy” rating on shares of Wayfair in a report on Tuesday, February 17th. Finally, Truist Financial lowered their target price on shares of Wayfair from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.48.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in Wayfair by 28,200.0% in the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 282 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. Webster Bank N. A. purchased a new position in Wayfair in the 4th quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC acquired a new position in Wayfair during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.