Niraj Shah Sells 199,422 Shares of Wayfair (NYSE:W) Stock

Key Points

• Niraj Shah, the CEO of Wayfair Inc., sold 199,422 shares at an average price of $78.40, totaling approximately $15.6 million, which reduced his ownership by 26.82%.
• Wayfair's stock price recently dipped by 0.3%, trading at $78.82, with a market cap of $10.22 billion and a 12-month price range between $20.41 and $80.50.
• Wayfair reported a substantial increase in quarterly earnings, achieving $0.87 per share, significantly surpassing analyst expectations by $0.54 and demonstrating a 5.0% revenue growth year-over-year.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 199,422 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the completion of the transaction, the chief executive officer owned 544,137 shares in the company, valued at $42,660,340.80. The trade was a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 shares were 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 shares were sold at an average price of $56.03, for a total value 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 value of $425,834.73.
• On Tuesday, July 1st, Niraj Shah sold 179,707 shares of Wayfair stock. The shares were sold at an average price of $52.58, for a total value 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 value 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 value 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.

Wayfair Trading Up 1.3%

W traded up $1.0270 on Wednesday, hitting $79.9770. The company had a trading volume of 7,901,832 shares, compared to its average volume of 4,995,665. The company's fifty day moving average price is $61.06 and its 200 day moving average price is $44.86. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $81.94. The firm has a market cap of $10.37 billion, a P/E ratio of -33.32 and a beta of 2.92.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the business earned $0.47 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Institutional Trading of Wayfair

Several hedge funds have recently modified their holdings of W. LPL Financial LLC grew its stake in Wayfair by 218.2% during the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock worth $1,706,000 after purchasing an additional 26,390 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Wayfair by 148.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company's stock valued at $752,000 after purchasing an additional 10,152 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Wayfair by 2.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 41,890 shares of the company's stock valued at $1,857,000 after buying an additional 920 shares during the period. Sterling Capital Management LLC grew its position in shares of Wayfair by 60.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock worth $250,000 after buying an additional 2,116 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Wayfair by 13.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 134,300 shares of the company's stock worth $5,952,000 after buying an additional 15,900 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on W shares. Piper Sandler reiterated an "overweight" rating and issued a $95.00 target price on shares of Wayfair in a report on Monday, August 4th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 price objective (up from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Needham & Company LLC boosted their price objective on Wayfair from $40.00 to $83.00 and gave the company a "buy" rating in a report on Monday, August 4th. TD Cowen raised Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Sanford C. Bernstein restated a "market perform" rating and set a $70.00 target price (up from $50.00) on shares of Wayfair in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of "Moderate Buy" and an average 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.