Wayfair (NYSE:W) CEO Sells 69,000 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 69,000 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $105.75, for a total transaction of $7,296,750.00. Following the completion of the transaction, the chief executive officer directly owned 222,137 shares of the company’s stock, valued at $23,490,987.75. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Niraj Shah sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.35, for a total transaction of $7,131,150.00.
• On Wednesday, August 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00.

Wayfair Price Performance

W stock traded down $3.17 during trading on Wednesday, reaching $104.82. 2,196,248 shares of the company were exchanged, compared to its average volume of 3,458,665. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of -42.61, a P/E/G ratio of 3.81 and a beta of 3.02. The company has a 50-day moving average of $102.40 and a two-hundred day moving average of $86.94. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that Wayfair Inc. will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Wayfair

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after purchasing an additional 296,233 shares during the period. Atreides Management LP increased its position in Wayfair by 64.3% in the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after buying an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Wayfair by 46.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after buying an additional 328,358 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after acquiring an additional 242,791 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Wayfair by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock worth $23,377,000 after acquiring an additional 5,586 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

W has been the topic of several research reports. Needham & Company LLC boosted their price target on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Zacks Research lowered shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Wells Fargo & Company boosted their price objective on Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Rosenblatt Securities assumed coverage on shares of Wayfair in a research report on Thursday, August 20th. They issued a “buy” rating and a $125.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $120.93.

About Wayfair

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.