Wayfair (NYSE:W) CEO Niraj Shah Sells 117,000 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 117,000 shares of Wayfair stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the transaction, the chief executive officer owned 105,137 shares in the company, valued at $11,696,491.25. This represents a 52.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $105.75, for a total value of $7,296,750.00.
• On Monday, September 14th, Niraj Shah sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.35, for a total value of $7,131,150.00.
• On Wednesday, August 12th, Niraj Shah sold 69,000 shares of Wayfair stock. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00.

Wayfair Stock Performance

W stock traded up $4.53 during trading on Monday, reaching $111.81. 2,162,916 shares of the company traded hands, compared to its average volume of 3,448,153. Wayfair Inc. has a 12 month low of $55.60 and a 12 month high of $119.98. The business has a 50 day simple moving average of $102.50 and a 200 day simple moving average of $87.71. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of -45.45, a price-to-earnings-growth ratio of 3.86 and a beta of 3.02.

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

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Wayfair plans to open a physical furniture store in Denver next month. The location could expand brand visibility, provide customers with an in-person shopping option and support an omnichannel strategy, although the store may also add operating costs before contributing materially to revenue. Furniture retailer Wayfair to open brick-and-mortar store in Denver next month
• Neutral Sentiment: Recent coverage highlights Wayfair’s home-furnishings assortment, seasonal promotions and discounted products. These articles may support customer engagement and sales activity, but the emphasis on discounts could pressure gross margins and does not provide evidence of a material change in financial forecasts. Wayfair comforter promotion
• Neutral Sentiment: A head-to-head survey comparing Brilliant Earth Group and Wayfair offers limited direct insight into Wayfair’s earnings outlook or near-term valuation. Brilliant Earth Group and Wayfair head-to-head survey
• Negative Sentiment: Director Steven Conine and CEO Niraj Shah each sold 117,000 shares at an average price of $111.25, reducing their direct holdings by roughly 53% and generating approximately $13.0 million apiece. The transactions may weigh on sentiment because of their size, though both were scheduled under Rule 10b5-1 plans. Wayfair insider sale filing
• Negative Sentiment: Insider Jon Blotner sold 546 shares for about $60,060. The transaction was small relative to his remaining ownership and was also made under a pre-arranged trading plan, limiting its significance. Wayfair insider transaction filing

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $108.00 price objective on shares of Wayfair in a research note on Tuesday, August 4th. Robert W. Baird raised their target price on shares of Wayfair from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wayfair in a report on Tuesday, September 1st. Needham & Company LLC lifted their price target on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a research report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.93.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Wayfair by 8.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the period. Atreides Management LP lifted its position in Wayfair by 64.3% during the 1st quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after acquiring an additional 560,133 shares during the period. Dimensional Fund Advisors LP grew its stake in Wayfair by 46.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,036,531 shares of the company’s stock valued at $77,923,000 after purchasing an additional 328,358 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Wayfair by 42.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock valued at $75,654,000 after purchasing an additional 242,791 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Wayfair by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 310,825 shares of the company’s stock valued at $23,377,000 after purchasing an additional 5,586 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc is an e-commerce company that sells furniture, home furnishings and related products through digital platforms. Its selection includes furniture, décor, lighting, rugs, mattresses, kitchen and dining products, housewares, home improvement items, outdoor furnishings and other goods for residential and commercial spaces.

The company operates a portfolio of online brands and retail websites, including Wayfair, Joss & Main, AllModern, Birch Lane and Perigold. These brands are designed to serve different customer preferences, price points and areas of the home-furnishings market.