Insider Selling: Wayfair (NYSE:W) CEO Sells $7,131,840.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer owned 360,137 shares in the company, valued at approximately $37,223,760.32. This represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wayfair Trading Up 0.5%

NYSE W traded up $0.46 during trading on Friday, hitting $101.59. 1,905,847 shares of the company’s stock were exchanged, compared to its average volume of 4,093,442. The company has a market cap of $13.41 billion, a PE ratio of -41.30, a P/E/G ratio of 4.48 and a beta of 2.99. Wayfair Inc. has a fifty-two week low of $55.60 and a fifty-two week high of $119.98. The stock’s 50 day moving average price is $90.52 and its two-hundred day moving average price is $81.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $3.52 billion for 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. Analysts forecast that Wayfair Inc. will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wayfair

Large investors have recently modified their holdings of the business. Covenant Asset Management LLC bought a new position in shares of Wayfair in the 4th quarter worth $4,403,000. North Dakota State Investment Board bought a new stake in Wayfair during the 4th quarter valued at $3,636,000. Vanguard Group Inc. raised its holdings in Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after buying an additional 72,707 shares during the last quarter. M&T Bank Corp raised its holdings in Wayfair by 3,713.2% during the fourth quarter. M&T Bank Corp now owns 168,505 shares of the company’s stock worth $16,920,000 after buying an additional 164,086 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in Wayfair during the fourth quarter worth $1,327,000. Institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating on shares of Wayfair in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Wedbush raised their price objective on Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $108.00 price objective on shares of Wayfair in a report on Tuesday, August 4th. Finally, BMO Capital Markets boosted their price objective on Wayfair from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.70.

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.