Wayfair (NYSE:W) CEO Niraj Shah Sells 69,000 Shares

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 69,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the transaction, the chief executive officer owned 360,137 shares of the company’s stock, valued at $37,223,760.32. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wayfair Price Performance

Shares of W stock opened at $101.59 on Friday. The stock’s fifty day simple moving average is $90.52 and its 200 day simple moving average is $81.71. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of -41.30, a P/E/G ratio of 4.48 and a beta of 2.99. Wayfair Inc. has a one year low of $55.60 and a one year high of $119.98.

Wayfair (NYSE:W) last announced its quarterly 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 return on equity of 3.40% and a negative net margin of 2.49%.The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Wayfair Inc. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on W. Robert W. Baird set a $116.00 target price on shares of Wayfair in a research report on Wednesday, August 5th. BMO Capital Markets boosted their price target on shares of Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Wayfair in a research note on Wednesday, August 5th. Mizuho decreased their price objective on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, UBS Group raised their price objective on shares of Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.70.

Key Stories Impacting Wayfair

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Physical retail expansion: Wayfair plans to open Pennsylvania’s first physical retail location in Pittsburgh. The store could help customers see products in person, support brand awareness and complement the company’s online marketplace. Wayfair to open Pennsylvania’s first physical retail location in Pittsburgh
• Positive Sentiment: Stores viewed as potential growth engine: Commentary suggests Wayfair’s physical-retail strategy is emerging as a possible long-term growth driver, potentially broadening customer reach and improving product discovery beyond its digital platform. Wayfair’s physical retail emerging as growth engine
• Neutral Sentiment: Promotional activity remains prominent: Wayfair was featured in end-of-summer clearance coverage, including discounts on fire pits, fire tables and home products. Promotions may stimulate near-term orders and clear inventory, but could also pressure margins. Final summer clearance savings from Saatva, Wayfair, REI and more
• Negative Sentiment: CEO and director sales: CEO Niraj Shah and director Steven Conine each sold 69,000 shares at an average of $103.36, reducing their individual holdings by about 16%. The transactions were made under pre-arranged Rule 10b5-1 trading plans, which lessens—but does not eliminate—the negative signaling risk. CEO insider sale filing

Hedge Funds Weigh In On Wayfair

A number of large investors have recently modified their holdings of W. Piper Sandler & CO. bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $34,000. Havemeyer Place LP bought a new position in Wayfair in the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC lifted its holdings in Wayfair by 393.4% during the 2nd 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. Kestra Advisory Services LLC acquired a new position in Wayfair during the 4th quarter worth $44,000. Finally, Larson Financial Group LLC boosted its position in Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after buying an additional 120 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.