Wayfair (NYSE:W) CEO Niraj Shah Sells 30,000 Shares

by · The Cerbat Gem

Wayfair Inc. (NYSE:W – Get Free Report) CEO Niraj Shah sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $102.32, for a total value of $3,069,600.00. Following the transaction, the chief executive officer owned 439,137 shares of the company’s stock, valued at approximately $44,932,497.84. The trade was a 6.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Tuesday, December 23rd, Niraj Shah sold 120,000 shares of Wayfair stock. The stock was sold at an average price of $100.27, for a total value of $12,032,400.00.
  • On Monday, November 24th, Niraj Shah sold 150,000 shares of Wayfair stock. The shares were 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 stock was sold at an average price of $82.85, for a total value of $7,042,250.00.

Wayfair Price Performance

Shares of NYSE W traded down $0.26 during midday trading on Monday, reaching $101.96. 1,433,838 shares of the stock traded hands, compared to its average volume of 4,564,407. The company’s 50 day moving average is $99.96 and its 200 day moving average is $81.17. Wayfair Inc. has a one year low of $20.41 and a one year high of $114.92. The stock has a market capitalization of $13.29 billion, a PE ratio of -39.83 and a beta of 3.25.

Wayfair (NYSE:W – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the company earned $0.22 EPS. Wayfair’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on W. Needham & Company LLC increased their price target on shares of Wayfair from $83.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Tuesday, October 28th. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Raymond James Financial increased their price target on Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 29th. Finally, Truist Financial lifted their price objective on shares of Wayfair from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.29.

View Our Latest Report on Wayfair

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in W. Larson Financial Group LLC raised its holdings in shares of Wayfair by 30.0% in the third quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock valued at $46,000 after acquiring an additional 120 shares in the last quarter. Versant Capital Management Inc increased its position in Wayfair by 8.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,948 shares of the company’s stock valued at $174,000 after purchasing an additional 151 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Wayfair by 3.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock worth $352,000 after purchasing an additional 200 shares during the period. Finally, Comerica Bank boosted its stake in shares of Wayfair by 56.5% during the third quarter. Comerica Bank now owns 634 shares of the company’s stock valued at $57,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

About Wayfair

(Get Free Report)

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.

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