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

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 69,000 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $103.35, for a total value of $7,131,150.00. Following the transaction, the chief executive officer owned 291,137 shares of the company’s stock, valued at approximately $30,089,008.95. The trade was a 19.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00.

Wayfair Stock Down 0.2%

W stock traded down $0.20 during mid-day trading on Wednesday, reaching $103.49. The company had a trading volume of 2,546,645 shares, compared to its average volume of 3,602,410. The stock has a market capitalization of $13.66 billion, a P/E ratio of -42.07, a P/E/G ratio of 3.77 and a beta of 2.99. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98. The stock’s 50-day simple moving average is $97.12 and its two-hundred day simple moving average is $83.17.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on Wayfair from $78.00 to $92.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Evercore reiterated an “outperform” rating and issued a $130.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Wedbush lifted their price target on Wayfair from $85.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Wayfair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.89.

Institutional Trading of Wayfair

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd purchased a new stake in shares of Wayfair in the second quarter valued at $3,207,000. Integrated Wealth Concepts LLC purchased a new position in shares of Wayfair during the second quarter valued at $349,000. NewEdge Advisors LLC grew its holdings in shares of Wayfair by 572.7% during the second quarter. NewEdge Advisors LLC now owns 4,016 shares of the company’s stock valued at $371,000 after buying an additional 3,419 shares in the last quarter. IFP Advisors Inc raised its position in Wayfair by 79.2% during the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after buying an additional 358 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in Wayfair during the second quarter valued at $16,362,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.