Wayfair Inc. (NYSE:W) CEO Sells $9,448,994.06 in Stock

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 179,707 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total value of $9,448,994.06. Following the completion of the sale, the chief executive officer owned 236,850 shares in the company, valued at $12,453,573. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 shares were 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.
• 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 transaction 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 transaction of $229,572.50.
• On Monday, May 12th, Niraj Shah sold 9,527 shares of Wayfair stock. The stock was sold at an average price of $40.04, for a total transaction of $381,461.08.

Wayfair Trading Up 0.7%

NYSE:W traded up $0.42 on Friday, hitting $56.88. 3,314,876 shares of the company's stock traded hands, compared to its average volume of 4,836,296. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $58.42. The firm has a 50-day moving average price of $42.50 and a 200-day moving average price of $40.19. The company has a market cap of $7.30 billion, a PE ratio of -19.96 and a beta of 2.97.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same period last year, the firm earned ($0.32) EPS. The company's revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on W. BMO Capital Markets set a $38.00 price objective on shares of Wayfair in a report on Friday, May 2nd. Evercore ISI boosted their price target on shares of Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Wedbush upgraded shares of Wayfair to a "hold" rating in a research report on Thursday, May 1st. UBS Group dropped their price target on shares of Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $61.00 price target (up from $46.00) on shares of Wayfair in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

Hedge Funds Weigh In On Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after buying an additional 327,603 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of 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 buying an additional 2,116 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 buying an additional 35,057 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Wayfair by 218.2% during the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock valued at $1,706,000 after buying an additional 26,390 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Wayfair during the 4th quarter valued at about $31,472,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

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.