Insider Selling: Wayfair Inc. (NYSE:W) CEO Sells $90,342.58 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 2,258 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.01, for a total value of $90,342.58. Following the completion of the transaction, the chief executive officer now directly owns 541,627 shares in the company, valued at approximately $21,670,496.27. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, May 13th, Niraj Shah sold 5,725 shares of Wayfair stock. The shares were sold at an average price of $40.10, for a total value of $229,572.50.
• On Monday, May 12th, Niraj Shah sold 9,527 shares of Wayfair stock. The shares were sold at an average price of $40.04, for a total value of $381,461.08.

Wayfair Trading Up 2.2%

Shares of W stock opened at $39.59 on Monday. The stock has a 50 day moving average of $31.13 and a two-hundred day moving average of $39.94. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $68.87. The company has a market capitalization of $5.02 billion, a P/E ratio of -9.85 and a beta of 2.93.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted ($0.32) EPS. Wayfair’s revenue was up .0% compared to the same quarter last year. Sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC raised its holdings in shares of Wayfair by 40.1% in the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock worth $2,827,000 after buying an additional 25,260 shares in the last quarter. Scientech Research LLC increased its holdings in Wayfair by 33.1% during the 1st quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock valued at $1,159,000 after purchasing an additional 9,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Wayfair by 29.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Wayfair during the 1st quarter valued at $452,000. Finally, AQR Capital Management LLC increased its holdings 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 purchasing an additional 276,471 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on W shares. Zelman & Associates started coverage on Wayfair in a report on Thursday. They set an “outperform” rating on the stock. The Goldman Sachs Group lowered their price objective on Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Loop Capital reissued a “sell” rating and set a $35.00 price objective on shares of Wayfair in a report on Wednesday, May 14th. Wedbush raised Wayfair to a “hold” rating in a report on Thursday, May 1st. Finally, Bank of America increased their price objective on Wayfair from $36.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Wayfair Company Profile

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.