Wayfair Inc. (NYSE:W) CEO Niraj Shah Sells 9,527 Shares

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 9,527 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $40.04, for a total transaction of $381,461.08. Following the completion of the sale, the chief executive officer now directly owns 549,610 shares of the company’s stock, valued at $22,006,384.40. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $229,572.50.

Wayfair Stock Performance

Shares of W stock opened at $38.68 on Friday. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $71.15. The company’s 50 day moving average price is $31.02 and its two-hundred day moving average price is $40.01. The company has a market capitalization of $4.91 billion, a P/E ratio of -9.62 and a beta of 2.93.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.32) EPS. Analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Institutional Trading of Wayfair

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after buying an additional 276,471 shares during the period. Alyeska Investment Group L.P. lifted its stake in Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after acquiring an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP lifted its stake in Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after acquiring an additional 1,200,000 shares in the last quarter. Perbak Capital Partners LLP acquired a new position in Wayfair during the 1st quarter worth approximately $348,000. Finally, Maverick Capital Ltd. bought a new position in shares of Wayfair during the 1st quarter worth approximately $2,153,000. 89.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

W has been the topic of several research analyst reports. UBS Group lowered their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Zelman & Associates assumed coverage on shares of Wayfair in a report on Thursday. They issued an “outperform” rating for the company. The Goldman Sachs Group dropped their price objective on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus reduced their target price on shares of Wayfair from $46.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial set a $40.00 price target on Wayfair in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.