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

Key Points

• Wayfair CEO Niraj Shah sold 69,000 shares at an average price of $105.75, generating approximately $7.3 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 23.7% to 222,137 shares.
• Wayfair shares fell 2.9% to $104.82 during Wednesday trading. The stock has traded between $55.60 and $119.98 over the past year and has a market capitalization of approximately $13.84 billion.
• The company recently exceeded quarterly earnings and revenue expectations, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $120.93. 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 that occurred on Monday, October 12th. The stock was sold at an average price of $105.75, for a total value of $7,296,750.00. Following the sale, the chief executive officer directly owned 222,137 shares in the company, valued at $23,490,987.75. This represents a 23.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Niraj Shah sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.35, for a total value of $7,131,150.00.
• On Wednesday, August 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00.

Wayfair Trading Down 2.9%

NYSE W traded down $3.17 during midday trading on Wednesday, hitting $104.82. The company had a trading volume of 2,196,248 shares, compared to its average volume of 3,458,665. The firm has a 50-day moving average price of $102.40 and a 200-day moving average price of $86.94. The company has a market capitalization of $13.84 billion, a PE ratio of -42.61, a P/E/G ratio of 3.81 and a beta of 3.02. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm posted $0.87 EPS. Wayfair's quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Wayfair Inc. will post 0.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities assumed coverage on shares of Wayfair in a research report on Thursday, August 20th. They set a "buy" rating and a $125.00 price objective for the company. The Goldman Sachs Group reissued a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. Citigroup raised their target price on shares of Wayfair from $95.00 to $133.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Truist Financial boosted their target price on shares of Wayfair from $99.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $108.00 price target on shares of Wayfair in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and a consensus target price of $120.93.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Wayfair by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company's stock valued at $290,813,000 after purchasing an additional 296,233 shares during the last quarter. Atreides Management LP lifted its position in shares of Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company's stock worth $107,625,000 after buying an additional 560,133 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company's stock worth $77,923,000 after buying an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company's stock worth $75,654,000 after buying an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Wayfair by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company's stock valued at $23,377,000 after buying an additional 5,586 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.

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