Niraj Shah Sells 7,713 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 7,713 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.21, for a total transaction of $425,834.73. Following the completion of the transaction, the chief executive officer owned 229,137 shares of the company’s stock, valued at $12,650,653.77. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 shares were 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 value of $2,927,871.10.
• On Wednesday, May 14th, Niraj Shah sold 2,258 shares of Wayfair stock. The stock was sold at an average price of $40.01, for a total value of $90,342.58.
• On Tuesday, May 13th, Niraj Shah sold 5,725 shares of Wayfair stock. The stock was sold at an average price of $40.10, for a total value of $229,572.50.
• On Monday, May 12th, Niraj Shah sold 9,527 shares of Wayfair stock. The shares were sold at an average price of $40.04, for a total value of $381,461.08.

Wayfair Price Performance

Wayfair stock traded down $1.69 during trading hours on Monday, reaching $55.10. The company had a trading volume of 5,232,915 shares, compared to its average volume of 4,850,265. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $58.42. The company has a 50-day moving average price of $42.50 and a 200 day moving average price of $40.13. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of -19.33 and a beta of 2.97.

Wayfair (NYSE:W) last issued its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted ($0.32) EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts expect that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on W shares. Truist Financial set a $40.00 price objective on shares of Wayfair in a research report on Friday, May 2nd. Bank of America boosted their price target on shares of Wayfair from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Loop Capital reissued a “sell” rating and issued a $35.00 price target on shares of Wayfair in a report on Wednesday, May 14th. Canaccord Genuity Group dropped their price objective on shares of Wayfair from $68.00 to $58.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Wedbush upgraded shares of Wayfair to a “hold” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.67.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently added to or reduced their stakes in W. Vanguard Group Inc. raised its stake in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after acquiring an additional 327,603 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Wayfair by 60.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock valued at $250,000 after purchasing an additional 2,116 shares during the period. Charles Schwab Investment Management Inc. raised its position in Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock valued at $44,733,000 after purchasing an additional 35,057 shares during the last quarter. LPL Financial LLC lifted its holdings in Wayfair by 218.2% in the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company’s stock worth $1,706,000 after buying an additional 26,390 shares during the period. Finally, Norges Bank purchased a new stake in Wayfair in the 4th quarter worth approximately $31,472,000. Institutional investors own 89.67% of the company’s stock.

About Wayfair

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.