Wayfair (NYSE:W) CEO Niraj Shah Sells 93,000 Shares

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 93,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $74.63, for a total value of $6,940,590.00. Following the completion of the transaction, the chief executive officer owned 196,137 shares of the company’s stock, valued at approximately $14,637,704.31. This represents a 32.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 23rd, Niraj Shah sold 150,000 shares of Wayfair stock. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00.
• On Friday, December 26th, Niraj Shah sold 30,000 shares of Wayfair stock. The shares were sold at an average price of $102.32, for a total transaction of $3,069,600.00.
• 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 transaction of $12,032,400.00.

Wayfair Stock Up 2.5%

Shares of Wayfair stock traded up $1.85 during trading on Wednesday, hitting $75.76. 3,944,166 shares of the company were exchanged, compared to its average volume of 3,821,263. The firm has a 50 day moving average price of $100.63 and a 200 day moving average price of $93.78. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of -31.18, a P/E/G ratio of 6.97 and a beta of 3.36. Wayfair Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $119.98.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Argus lifted their price target on shares of Wayfair from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley raised their target price on shares of Wayfair from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Oppenheimer boosted their price target on Wayfair from $100.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Citigroup raised their price objective on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets set a $110.00 price objective on Wayfair and gave the company a “market perform” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.48.

Institutional Trading of Wayfair

Several institutional investors have recently made changes to their positions in the stock. Optas LLC raised its position in shares of Wayfair by 2.1% in the 4th quarter. Optas LLC now owns 5,057 shares of the company’s stock worth $508,000 after buying an additional 106 shares during the period. Larson Financial Group LLC raised its holdings in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after purchasing an additional 120 shares during the period. Wedmont Private Capital grew its holdings in shares of Wayfair by 3.3% during the 4th quarter. Wedmont Private Capital now owns 3,774 shares of the company’s stock worth $415,000 after purchasing an additional 121 shares during the period. True Wealth Design LLC increased its position in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company’s stock worth $45,000 after purchasing an additional 123 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Wayfair by 2.3% in the fourth quarter. State of Alaska Department of Revenue now owns 5,418 shares of the company’s stock valued at $544,000 after buying an additional 124 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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.