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

Key Points

• Wayfair CEO Niraj Shah sold 69,000 shares at an average price of $103.35, generating approximately $7.13 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 19.16%.
• Wayfair shares traded near $103.49, with the stock up substantially from its 52-week low of $55.60 but below its $119.98 high. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.95 in EPS and $3.52 billion in revenue.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $119.89. Institutional investors own approximately 89.67% of Wayfair’s outstanding shares.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 69,000 shares of the stock in a transaction dated 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 directly owned 291,137 shares in the company, valued at approximately $30,089,008.95. The trade was a 19.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 transaction of $7,131,840.00.

Wayfair Stock Performance

Shares of W traded down $0.20 during mid-day trading on Wednesday, hitting $103.49. 2,546,645 shares of the company's stock were exchanged, compared to its average volume of 3,602,410. The stock's 50-day moving average is $97.12 and its 200-day moving average is $83.17. Wayfair Inc. has a fifty-two week low of $55.60 and a fifty-two week high of $119.98. The company has a market cap of $13.66 billion, a price-to-earnings ratio of -42.07, a P/E/G ratio of 3.77 and a beta of 2.99.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. As a group, equities research analysts anticipate that Wayfair Inc. will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

W has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Wayfair in a research report on Wednesday, August 5th. UBS Group lifted their target price on Wayfair from $118.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Zacks Research raised Wayfair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 25th. The Goldman Sachs Group restated a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. Finally, Benchmark began coverage on Wayfair in a report on Tuesday, July 7th. They set a "hold" rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wayfair presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.89.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Flynn Zito Capital Management LLC raised its stake in Wayfair by 6.4% during the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company's stock worth $209,000 after acquiring an additional 168 shares during the period. Larson Financial Group LLC lifted its holdings in Wayfair by 36.2% in the fourth quarter. Larson Financial Group LLC now owns 708 shares of the company's stock worth $71,000 after acquiring an additional 188 shares during the last quarter. Arizona State Retirement System boosted its stake in Wayfair by 0.7% in the second quarter. Arizona State Retirement System now owns 28,514 shares of the company's stock valued at $2,635,000 after acquiring an additional 201 shares during the period. Triumph Capital Management grew its holdings in shares of Wayfair by 6.3% during the second quarter. Triumph Capital Management now owns 3,498 shares of the company's stock valued at $323,000 after purchasing an additional 207 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Wayfair by 18.6% during the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company's stock valued at $125,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company's stock.

About Wayfair

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.

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