Niraj Shah Sells 150,000 Shares of Wayfair (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.91, for a total value of $15,886,500.00. Following the completion of the transaction, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at approximately $77,222,899.67. This trade represents a 17.06% decrease in their position. The transaction 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, October 28th, Niraj Shah sold 30,000 shares of Wayfair stock. The stock was 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.
• On Monday, September 22nd, Niraj Shah sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00.

Wayfair Stock Up 2.7%

W stock traded up $2.96 during trading on Wednesday, hitting $112.75. The company had a trading volume of 2,211,189 shares, compared to its average volume of 4,729,306. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $114.92. The company has a 50 day simple moving average of $92.21 and a 200-day simple moving average of $71.50. The firm has a market capitalization of $14.70 billion, a P/E ratio of -44.04 and a beta of 3.03.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Wayfair from $91.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Bank of America raised Wayfair from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on Wayfair in a report on Friday, October 24th. Zelman & Associates upped their target price on shares of Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Argus raised their price target on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average price target of $105.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake in shares of Wayfair by 40.2% during the third quarter. Advisory Services Network LLC now owns 15,148 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,341 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Wayfair by 1,506.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 612,809 shares of the company’s stock worth $54,742,000 after buying an additional 574,660 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Wayfair during the 3rd quarter worth about $293,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Wayfair by 2.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 23,022 shares of the company’s stock valued at $2,052,000 after acquiring an additional 583 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Wayfair during the 3rd quarter worth about $1,149,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.