Wayfair (NYSE:W) CEO Sells $16,330,500.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the transaction, the chief executive officer directly owned 289,137 shares in the company, valued at $31,478,345.19. This trade represents a 34.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 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 value 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 value of $15,886,500.00.

Wayfair Stock Up 1.0%

Shares of W stock traded up $1.09 on Tuesday, hitting $111.22. The company had a trading volume of 1,320,938 shares, compared to its average volume of 2,682,800. The company has a 50-day moving average price of $104.78 and a 200-day moving average price of $89.76. The firm has a market cap of $14.50 billion, a P/E ratio of -43.44, a price-to-earnings-growth ratio of 9.02 and a beta of 3.31. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $119.98.

Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.01 billion. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. Equities research analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on W. Barclays lifted their price objective on shares of Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Guggenheim upped their target price on shares of Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on Wayfair from $82.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. UBS Group boosted their price target on Wayfair from $102.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Raymond James Financial lifted their target price on shares of Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $107.21.

Hedge Funds Weigh In On Wayfair

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

About Wayfair

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.