Wayfair (NYSE:W) CEO Niraj Shah Sells 120,000 Shares

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 120,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $100.27, for a total transaction of $12,032,400.00. Following the completion of the sale, the chief executive officer directly owned 469,137 shares of the company’s stock, valued at $47,040,366.99. The trade was a 20.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, December 26th, Niraj Shah sold 30,000 shares of Wayfair stock. The stock was sold at an average price of $102.32, for a total transaction of $3,069,600.00.
• On Monday, November 24th, Niraj Shah sold 150,000 shares of Wayfair stock. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00.
• On Tuesday, October 28th, Niraj Shah sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $105.10, for a total value of $3,153,000.00.
• On Thursday, October 23rd, Niraj Shah sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $82.17, for a total value of $9,860,400.00.
• On Monday, October 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The shares were sold at an average price of $82.85, for a total value of $7,042,250.00.

Wayfair Price Performance

Shares of Wayfair stock traded down $0.26 during trading hours on Monday, hitting $101.96. 1,433,838 shares of the company’s stock traded hands, compared to its average volume of 4,564,407. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of -39.83 and a beta of 3.25. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $114.92. The company has a fifty day simple moving average of $99.96 and a 200-day simple moving average of $81.17.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm posted $0.22 earnings per share. Wayfair’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently modified their holdings of W. Hsbc Holdings PLC lifted its holdings in shares of Wayfair by 235.2% in the first quarter. Hsbc Holdings PLC now owns 25,095 shares of the company’s stock worth $804,000 after buying an additional 17,608 shares in the last quarter. Benchstone Capital Management LP grew its stake in Wayfair by 11.0% during the first quarter. Benchstone Capital Management LP now owns 404,585 shares of the company’s stock valued at $12,959,000 after acquiring an additional 40,213 shares in the last quarter. Graham Capital Management L.P. increased its holdings in Wayfair by 20.0% during the 1st quarter. Graham Capital Management L.P. now owns 50,471 shares of the company’s stock worth $1,617,000 after acquiring an additional 8,413 shares during the period. Maverick Capital Ltd. purchased a new stake in Wayfair in the 1st quarter worth approximately $2,153,000. Finally, Perbak Capital Partners LLP bought a new position in Wayfair in the 1st quarter valued at $348,000. 89.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on W. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. boosted their target price on Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Guggenheim upped their price target on Wayfair from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. The Goldman Sachs Group lifted their price objective on Wayfair from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.29.

About Wayfair

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.