Insider Selling: Wayfair Inc. (NYSE:W) CEO Sells 9,527 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 9,527 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $40.04, for a total value of $381,461.08. Following the completion of the sale, the chief executive officer now owns 549,610 shares in the company, valued at $22,006,384.40. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 shares were sold at an average price of $40.10, for a total transaction of $229,572.50.

Wayfair Stock Performance

NYSE W opened at $39.59 on Friday. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $68.87. The company has a fifty day moving average of $31.13 and a 200-day moving average of $39.96. 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 released its quarterly 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 firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler set a $58.00 target price on shares of Wayfair and gave the company an “overweight” rating in a report on Friday, February 21st. Zelman & Associates assumed coverage on Wayfair in a research report on Thursday. They issued an “outperform” rating for the company. Truist Financial set a $40.00 price objective on Wayfair in a research note on Friday, May 2nd. UBS Group cut their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus decreased their price target on Wayfair from $46.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently modified their holdings of W. True Wealth Design LLC lifted its stake in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC boosted its holdings in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in Wayfair during the 4th quarter worth approximately $41,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

About Wayfair

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.