Wayfair (NYSE:W) CEO Niraj Shah Sells 85,000 Shares

Key Points

• Niraj Shah, CEO of Wayfair, sold 85,000 shares of the company at an average price of $86.79, totaling approximately $7.38 million, leading to an 18.51% reduction in his holdings.
• Wayfair reported a 5.0% increase in revenue year-over-year, with an earnings per share of $0.87 for the quarter, significantly exceeding analysts' expectations.
• Institutional investors own 89.67% of Wayfair's stock, indicating strong institutional support for the company amid various stake changes from hedge funds.

Wayfair Inc. (NYSE:W - Get Free Report) CEO Niraj Shah sold 85,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the transaction, the chief executive officer owned 374,137 shares of the company's stock, valued at approximately $32,471,350.23. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The stock was 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 shares were sold at an average price of $77.03, for a total transaction of $603,607.08.
• On Monday, July 21st, Niraj Shah sold 60,000 shares of Wayfair stock. The stock was sold at an average price of $56.03, for a total transaction of $3,361,800.00.
• 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 transaction 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 transaction of $9,448,994.06.
• 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 transaction of $1,174,385.80.

Wayfair Stock Performance

Shares of NYSE W traded down $0.16 during mid-day trading on Wednesday, reaching $82.89. The company's stock had a trading volume of 3,219,909 shares, compared to its average volume of 4,984,208. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77. The stock has a market capitalization of $10.75 billion, a P/E ratio of -34.54 and a beta of 2.95. The stock has a 50-day moving average of $75.46 and a two-hundred day moving average of $51.42.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Wayfair's revenue was up 5.0% on a year-over-year basis. Analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Wayfair by 85.8% in the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after acquiring an additional 609 shares during the period. EverSource Wealth Advisors LLC grew its stake in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock valued at $42,000 after acquiring an additional 653 shares during the period. Parallel Advisors LLC grew its stake in Wayfair by 229.0% in the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after acquiring an additional 1,097 shares during the period. IFP Advisors Inc grew its stake in Wayfair by 49.3% in the second quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after acquiring an additional 617 shares during the period. Finally, GFG Capital LLC acquired a new stake in Wayfair in the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 89.67% of the company's stock.

Analyst Upgrades and Downgrades

W has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on shares of Wayfair from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Jefferies Financial Group upped their price target on shares of Wayfair from $91.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Zelman & Associates raised their price target on shares of Wayfair from $85.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Gordon Haskett upgraded shares of Wayfair from a "hold" rating to a "moderate buy" rating in a report on Monday, August 4th. Finally, Guggenheim restated a "buy" rating and issued a $90.00 price target on shares of Wayfair in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.15.

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.

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