Wayfair (NYSE:W) CEO Sells $12,032,400.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 120,000 shares of Wayfair stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $100.27, for a total value of $12,032,400.00. Following the sale, the chief executive officer directly owned 469,137 shares of the company’s stock, valued at $47,040,366.99. This represents a 20.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, December 26th, Niraj Shah sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $102.32, for a total value of $3,069,600.00.
• On Monday, November 24th, Niraj Shah sold 150,000 shares of Wayfair stock. The shares were sold at an average price of $105.91, for a total value of $15,886,500.00.
• On Tuesday, October 28th, Niraj Shah sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $105.10, for a total value 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 transaction of $7,042,250.00.

Wayfair Stock Performance

Wayfair stock traded down $0.26 during mid-day trading on Monday, hitting $101.96. 1,433,838 shares of the company traded hands, compared to its average volume of 4,564,407. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of -39.83 and a beta of 3.25. The stock has a fifty day moving average price of $99.96 and a 200-day moving average price of $81.17.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business posted $0.22 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of W. Cornerstone Planning Group LLC grew its holdings in shares of Wayfair by 28,200.0% in the third 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 last quarter. True Wealth Design LLC raised its holdings in Wayfair by 250.5% during the 3rd 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 boosted its position in Wayfair by 156.3% during the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Larson Financial Group LLC grew its holdings in Wayfair by 30.0% in the 3rd 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. Finally, Comerica Bank grew its holdings in Wayfair by 56.5% in the 3rd quarter. Comerica Bank now owns 634 shares of the company’s stock worth $57,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

W has been the subject of a number of research reports. Citigroup upped their price objective on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a 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. Argus increased their price target on shares of Wayfair from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler reissued an “overweight” rating on shares of Wayfair in a research note on Friday, November 21st. Finally, Stifel Nicolaus set a $100.00 price objective on shares of Wayfair in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.29.

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.