Wayfair Inc. (NYSE:W) CEO Sells $1,482,900.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 30,000 shares of Wayfair stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $49.43, for a total value of $1,482,900.00. Following the completion of the transaction, the chief executive officer now directly owns 439,137 shares in the company, valued at $21,706,541.91. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, May 27th, Niraj Shah sold 72,490 shares of Wayfair stock. The shares were sold at an average price of $40.39, for a total value of $2,927,871.10.
• On Wednesday, May 14th, Niraj Shah sold 2,258 shares of Wayfair stock. The stock was sold at an average price of $40.01, for a total transaction of $90,342.58.
• On Tuesday, May 13th, Niraj Shah sold 5,725 shares of Wayfair stock. The stock was sold at an average price of $40.10, for a total transaction 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 transaction of $381,461.08.

Wayfair Stock Performance

Shares of NYSE:W opened at $50.21 on Thursday. The business has a 50-day simple moving average of $38.37 and a two-hundred day simple moving average of $40.09. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of -17.62 and a beta of 2.94. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $58.42.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Wayfair’s quarterly revenue was up .0% on a year-over-year basis. As a group, research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on W. Deutsche Bank Aktiengesellschaft cut Wayfair from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Monday, April 14th. Citigroup increased their target price on Wayfair from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Evercore ISI raised their target price on Wayfair from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Wedbush raised Wayfair to a “hold” rating in a research note on Thursday, May 1st. Finally, Loop Capital reiterated a “sell” rating and issued a $35.00 price objective on shares of Wayfair in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and a consensus price target of $44.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares during the period. Sterling Capital Management LLC raised its stake in shares of Wayfair by 60.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,636 shares of the company’s stock worth $250,000 after buying an additional 2,116 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock valued at $44,733,000 after buying an additional 35,057 shares in the last quarter. LPL Financial LLC lifted its holdings in Wayfair by 218.2% during the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company’s stock valued at $1,706,000 after purchasing an additional 26,390 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Wayfair in the fourth quarter worth $31,472,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.