Insider Selling: Wayfair Inc. (NYSE:W) CEO Sells 5,725 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 5,725 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $40.10, for a total value of $229,572.50. Following the completion of the sale, the chief executive officer now directly owns 543,885 shares of the company’s stock, valued at $21,809,788.50. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $90,342.58.
• On Monday, May 12th, Niraj Shah sold 9,527 shares of Wayfair stock. The stock was sold at an average price of $40.04, for a total value of $381,461.08.

Wayfair Trading Up 2.2%

W stock opened at $39.59 on Friday. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $68.87. The firm has a market cap of $5.02 billion, a P/E ratio of -9.85 and a beta of 2.93. The business’s 50 day moving average is $31.13 and its 200-day moving average is $39.96.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.24. The business 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 quarter last year, the company earned ($0.32) earnings per share. Sell-side analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Wayfair

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on W shares. Stifel Nicolaus dropped their price objective on Wayfair from $46.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial set a $40.00 price objective on Wayfair in a research note on Friday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $25.00 price objective on shares of Wayfair in a research note on Friday, April 25th. Canaccord Genuity Group dropped their price objective on Wayfair from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Piper Sandler set a $58.00 price objective on Wayfair and gave the stock an “overweight” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.83.

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.