Wayfair (NYSE:W) CEO Niraj Shah Sells 120,000 Shares

Key Points

• Niraj Shah, the CEO of Wayfair, sold 120,000 shares of the company's stock for approximately $9.86 million, reducing his ownership by 41.5% to a total of 169,137 shares.
• Wayfair's stock traded at $83.12 with a market capitalization of $10.78 billion, showing significant fluctuations with a one-year low of $20.41 and a high of $91.77.
• Analyst upgrades have boosted Wayfair’s price targets, with firms like Jefferies and UBS setting targets between $91.00 and $102.00, signaling a positive outlook for the company.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 120,000 shares of the business's stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the sale, the chief executive officer directly owned 169,137 shares of the company's stock, valued at $13,897,987.29. This represents a 41.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, October 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total transaction of $7,042,250.00.
• On Monday, September 22nd, Niraj Shah sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $86.79, for a total transaction of $7,377,150.00.
• On Wednesday, August 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $80.07, for a total transaction of $6,805,950.00.
• On Wednesday, August 13th, Niraj Shah sold 199,422 shares of Wayfair stock. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80.
• On Thursday, August 7th, Niraj Shah sold 17,742 shares of Wayfair stock. The stock was sold at an average price of $77.29, for a total transaction of $1,371,279.18.
• On Wednesday, August 6th, Niraj Shah sold 7,836 shares of Wayfair stock. The stock was sold at an average price of $77.03, for a total transaction of $603,607.08.

Wayfair Stock Performance

Shares of Wayfair stock traded up $0.00 on Friday, reaching $83.12. 3,049,452 shares of the stock were exchanged, compared to its average volume of 4,771,600. The firm's 50 day moving average is $82.48 and its 200-day moving average is $59.38. Wayfair Inc. has a one year low of $20.41 and a one year high of $91.77. The firm has a market cap of $10.78 billion, a PE ratio of -34.63 and a beta of 3.03.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. The business's revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, equities research analysts expect that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several large investors have recently modified their holdings of W. True Wealth Design LLC increased its position in shares of Wayfair by 250.5% during the third quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $29,000 after buying an additional 233 shares during the period. Global Retirement Partners LLC increased its position in shares of Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company's stock worth $29,000 after buying an additional 200 shares during the period. GAMMA Investing LLC increased its position in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after buying an additional 609 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock worth $42,000 after buying an additional 653 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock worth $81,000 after buying an additional 1,097 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on W. Jefferies Financial Group increased their price objective on shares of Wayfair from $91.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, September 19th. UBS Group increased their price objective on shares of Wayfair from $91.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, October 17th. Truist Financial increased their price objective on shares of Wayfair from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Guggenheim reissued a "buy" rating and issued a $90.00 price objective on shares of Wayfair in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada upped their price target on shares of Wayfair from $25.00 to $51.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.88.

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.

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