Wayfair Inc. (NYSE:W) CEO Niraj Shah Sells 60,000 Shares

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $56.03, for a total transaction of $3,361,800.00. Following the completion of the transaction, the chief executive officer directly owned 169,137 shares of the company's stock, valued at $9,476,746.11. This represents a 26.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 stock was 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 stock was 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 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 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 transaction of $381,461.08.

Wayfair Stock Up 3.6%

W traded up $2.28 during trading on Friday, reaching $65.35. The company's stock had a trading volume of 3,571,413 shares, compared to its average volume of 5,114,924. The firm has a fifty day simple moving average of $49.16 and a two-hundred day simple moving average of $41.38. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $65.42. The company has a market cap of $8.39 billion, a price-to-earnings ratio of -22.93 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, topping analysts' consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.71 billion. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.32) earnings per share. As a group, equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its position in Wayfair by 481.3% during the 2nd quarter. CWM LLC now owns 10,098 shares of the company's stock worth $516,000 after acquiring an additional 8,361 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Wayfair by 40.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company's stock worth $603,000 after purchasing an additional 3,395 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after purchasing an additional 617 shares during the last quarter. GFG Capital LLC purchased a new position in Wayfair during the 2nd quarter valued at about $102,000. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Wayfair during the 2nd quarter worth about $270,000. Hedge funds and other institutional investors own 89.67% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on W. Canaccord Genuity Group lowered their price objective on shares of Wayfair from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group decreased their target price on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. TD Cowen raised Wayfair from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Mizuho reduced their target price on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, BMO Capital Markets set a $38.00 price target on Wayfair in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Wayfair presently has a consensus rating of "Moderate Buy" and an average price target of $48.38.

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.