Niraj Shah Sells 7,836 Shares of Wayfair Inc. (NYSE:W) Stock

Key Points

• Niraj Shah, CEO of Wayfair Inc., sold a total of $603,607.08 worth of shares on August 6th, representing a 4.63% decrease in his ownership position.
• Wayfair's stock has recently experienced a 1.4% decline and traded at $72.29 during midday trading, with a market capitalization of $9.28 billion.
• The company reported better-than-expected quarterly earnings, with $0.87 earnings per share for the quarter, exceeding analysts' estimates of $0.33.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 7,836 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $77.03, for a total value of $603,607.08. Following the completion of the sale, the chief executive officer directly owned 161,301 shares in the company, valued at approximately $12,425,016.03. The trade was a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $77.29, for a total value of $1,371,279.18.
• 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 shares were 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 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 shares were sold at an average price of $40.39, for a total value of $2,927,871.10.
• On Wednesday, May 14th, Niraj Shah sold 2,258 shares of Wayfair stock. The shares were 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 Stock Performance

Wayfair stock traded up $2.82 during midday trading on Tuesday, reaching $74.58. The stock had a trading volume of 1,677,017 shares, compared to its average volume of 5,126,843. The firm's fifty day simple moving average is $56.50 and its 200-day simple moving average is $43.36. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $78.06. The stock has a market capitalization of $9.67 billion, a P/E ratio of -31.07 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The business's revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its position in Wayfair by 6.2% in the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock valued at $598,596,000 after buying an additional 782,757 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company's stock worth $174,969,000 after purchasing an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP raised its stake in Wayfair by 42.9% during the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company's stock worth $128,120,000 after buying an additional 1,200,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Wayfair by 3.7% during the second quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company's stock worth $84,985,000 after buying an additional 59,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Wayfair by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company's stock worth $32,416,000 after buying an additional 2,736 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on W shares. The Goldman Sachs Group upped their price target on shares of Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group upped their price target on shares of Wayfair from $80.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $68.00 price target (up from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Wayfair in a research note on Tuesday, July 1st. Finally, Gordon Haskett raised shares of Wayfair from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.96.

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.