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

Key Points

• Wayfair CEO Niraj Shah sold 69,000 shares at an average price of $103.36, generating approximately $7.13 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 16.08% to 360,137 shares.
• Wayfair recently exceeded quarterly expectations, reporting adjusted earnings of $0.95 per share versus the $0.90 consensus estimate and revenue of $3.52 billion, up 7.5% year over year.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $119.70; shares recently traded near $101.59.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the sale, the chief executive officer directly owned 360,137 shares of the company's stock, valued at approximately $37,223,760.32. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wayfair Price Performance

NYSE W traded up $0.46 on Friday, reaching $101.59. The stock had a trading volume of 1,905,847 shares, compared to its average volume of 4,093,442. The company has a market cap of $13.41 billion, a P/E ratio of -41.30, a price-to-earnings-growth ratio of 4.48 and a beta of 2.99. The firm has a fifty day moving average of $90.52 and a two-hundred day moving average of $81.71. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. Research analysts predict that Wayfair Inc. will post 0.75 EPS for the current fiscal year.

Institutional Trading of Wayfair

Several large investors have recently made changes to their positions in W. Optas LLC increased its stake in Wayfair by 2.1% in the fourth quarter. Optas LLC now owns 5,057 shares of the company's stock valued at $508,000 after acquiring an additional 106 shares during the last quarter. Larson Financial Group LLC lifted its stake in Wayfair by 30.0% during the third quarter. Larson Financial Group LLC now owns 520 shares of the company's stock worth $46,000 after purchasing an additional 120 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Wayfair by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company's stock worth $544,000 after purchasing an additional 124 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Wayfair by 4.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,435 shares of the company's stock valued at $345,000 after purchasing an additional 155 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Wayfair by 12.8% in the 4th quarter. Parallel Advisors LLC now owns 1,400 shares of the company's stock valued at $141,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on W. Morgan Stanley reissued an "overweight" rating on shares of Wayfair in a report on Wednesday, August 5th. Citigroup boosted their price target on Wayfair from $95.00 to $133.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research downgraded Wayfair from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Royal Bank Of Canada raised their price objective on Wayfair from $78.00 to $92.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $119.70.

Wayfair Company Profile

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source