Insider Selling: Wayfair (NYSE:W) CEO Sells 85,000 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00. Following the transaction, the chief executive officer directly owned 459,137 shares of the company’s stock, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, August 13th, Niraj Shah sold 199,422 shares of Wayfair stock. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80.
• On Thursday, August 7th, Niraj Shah sold 17,742 shares of Wayfair stock. The stock was sold at an average price of $77.29, for a total transaction of $1,371,279.18.
• On Wednesday, August 6th, Niraj Shah sold 7,836 shares of Wayfair stock. The stock was sold at an average price of $77.03, for a total transaction of $603,607.08.
• On Monday, July 21st, Niraj Shah sold 60,000 shares of Wayfair stock. The stock was sold at an average price of $56.03, for a total transaction of $3,361,800.00.
• On Wednesday, July 2nd, Niraj Shah sold 7,713 shares of Wayfair stock. The stock was sold at an average price of $55.21, for a total transaction of $425,834.73.
• On Tuesday, July 1st, Niraj Shah sold 179,707 shares of Wayfair stock. The stock was sold at an average price of $52.58, for a total transaction of $9,448,994.06.
• On Monday, June 30th, Niraj Shah sold 22,580 shares of Wayfair stock. The stock was sold at an average price of $52.01, for a total transaction of $1,174,385.80.
• On Friday, June 20th, Niraj Shah sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $49.43, for a total transaction of $1,482,900.00.
• On Tuesday, May 27th, Niraj Shah sold 72,490 shares of Wayfair stock. The stock was sold at an average price of $40.39, for a total transaction of $2,927,871.10.

Wayfair Stock Performance

Shares of NYSE W opened at $77.7630 on Friday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $81.94. The firm’s 50 day moving average price is $62.28 and its 200 day moving average price is $45.28. The firm has a market cap of $10.08 billion, a P/E ratio of -32.40 and a beta of 2.92.

Wayfair (NYSE:W) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Wayfair Inc. will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC lifted its holdings in shares of Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 during the period. GAMMA Investing LLC increased its stake in Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after buying an additional 609 shares during the period. Parallel Advisors LLC increased its stake in Wayfair by 229.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after buying an additional 1,097 shares during the period. Finally, IFP Advisors Inc increased its stake in Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after buying an additional 617 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on W. Raymond James Financial restated a “strong-buy” rating on shares of Wayfair in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Wayfair from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, August 5th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 price target (up previously from $38.00) on shares of Wayfair in a report on Tuesday, August 5th. Guggenheim decreased their price target on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company set a $84.00 price target on shares of Wayfair and gave the company an “overweight” rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.65.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.