Wayfair (NYSE:W) CEO Sells $7,042,250.00 in Stock

Key Points

• Wayfair CEO Niraj Shah sold 85,000 shares of the company on October 20th for $7,042,250, reducing his ownership stake by 22.72% to 289,137 shares valued at nearly $24 million.
• The stock price of Wayfair (NYSE:W) has seen fluctuations, trading at $81.32, with a low of $20.41 and a high of $91.77 over the past year.
• Analysts have mixed ratings on Wayfair, with two declaring it a Strong Buy and fifteen recommending Buy, while Zacks Research downgraded it from "strong-buy" to "hold."

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, October 20th. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00. Following the transaction, the chief executive officer owned 289,137 shares of the company's stock, valued at $23,955,000.45. This trade represents a 22.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $7,377,150.00.
• 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 stock was sold at an average price of $77.03, for a total transaction of $603,607.08.

Wayfair Trading Up 0.5%

Shares of NYSE:W traded up $0.41 during trading on Wednesday, reaching $81.32. The stock had a trading volume of 2,465,129 shares, compared to its average volume of 4,789,793. Wayfair Inc. has a one year low of $20.41 and a one year high of $91.77. The company has a market capitalization of $10.54 billion, a P/E ratio of -33.88 and a beta of 3.03. The firm's 50-day simple moving average is $82.27 and its 200 day simple moving average is $58.43.

Wayfair (NYSE:W - Get Free Report) last released 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 firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The firm's quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Wayfair from $91.00 to $102.00 and gave the company a "buy" rating in a report on Friday, September 19th. Zacks Research cut shares of Wayfair from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Truist Financial lifted their target price on shares of Wayfair from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Evercore ISI lifted their target price on shares of Wayfair from $85.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 16th. Finally, Mizuho lifted their target price on shares of Wayfair from $50.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Wayfair has an average rating of "Moderate Buy" and an average target price of $74.50.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company's stock valued at $16,786,000 after acquiring an additional 276,471 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Wayfair during the 1st quarter valued at approximately $452,000. Signaturefd LLC increased its holdings in shares of Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company's stock valued at $19,264,000 after purchasing an additional 34,507 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Wayfair by 4.3% during the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company's stock valued at $2,923,000 after purchasing an additional 3,725 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after purchasing an additional 609 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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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