Wayfair (NYSE:W) CEO Sells 30,000 Shares

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 30,000 shares of the firm’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $102.32, for a total value of $3,069,600.00. Following the transaction, the chief executive officer owned 439,137 shares of the company’s stock, valued at $44,932,497.84. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, December 23rd, Niraj Shah sold 120,000 shares of Wayfair stock. The shares were sold at an average price of $100.27, for a total transaction of $12,032,400.00.
• On Monday, November 24th, Niraj Shah sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00.
• On Tuesday, October 28th, Niraj Shah sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $105.10, for a total transaction of $3,153,000.00.
• On Thursday, October 23rd, Niraj Shah sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00.
• On Monday, October 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00.

Wayfair Trading Down 0.3%

W traded down $0.26 during trading on Monday, hitting $101.96. 1,433,838 shares of the company’s stock traded hands, compared to its average volume of 4,564,407. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $114.92. The company’s 50 day simple moving average is $99.96 and its two-hundred day simple moving average is $81.17. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of -39.83 and a beta of 3.25.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup lifted their target price on shares of Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Wayfair in a research note on Wednesday, October 29th. Stifel Nicolaus set a $100.00 target price on shares of Wayfair in a research report on Wednesday, October 29th. Bank of America upgraded Wayfair from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 28th. Finally, Zacks Research downgraded Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC boosted its stake in Wayfair by 28,200.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares during the period. True Wealth Design LLC raised its position in shares of Wayfair by 250.5% during the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after buying an additional 233 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Wayfair by 156.3% in the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after acquiring an additional 120 shares during the last quarter. 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.