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

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 69,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $103.35, for a total value of $7,131,150.00. Following the transaction, the chief executive officer directly owned 291,137 shares of the company’s stock, valued at approximately $30,089,008.95. This represents a 19.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00.

Wayfair Stock Down 0.2%

Shares of Wayfair stock opened at $103.49 on Thursday. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98. The company has a 50 day moving average of $97.45 and a 200 day moving average of $83.34. The company has a market capitalization of $13.66 billion, a P/E ratio of -42.07, a P/E/G ratio of 3.73 and a beta of 2.99.

Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Wayfair during the fourth quarter worth about $117,973,000. Assenagon Asset Management S.A. increased its position in Wayfair by 23,901.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 575,800 shares of the company’s stock valued at $43,306,000 after acquiring an additional 573,401 shares during the period. Atreides Management LP raised its stake in Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock valued at $107,625,000 after acquiring an additional 560,133 shares during the last quarter. Wolf Hill Capital Management LP raised its stake in Wayfair by 62.5% during the 4th quarter. Wolf Hill Capital Management LP now owns 1,273,004 shares of the company’s stock valued at $127,822,000 after acquiring an additional 489,404 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock worth $77,923,000 after acquiring an additional 328,358 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

W has been the topic of several recent analyst reports. TD Cowen increased their target price on Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Truist Financial upped their price objective on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada increased their price objective on Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Benchmark assumed coverage on Wayfair in a research report on Tuesday, July 7th. They set a “hold” rating on the stock. Finally, Needham & Company LLC boosted their target price on Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus price target of $119.89.

About Wayfair

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.