Insider Selling: Wayfair Inc. (NYSE:W) CEO Sells 9,527 Shares of Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 9,527 shares of Wayfair stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $40.04, for a total value of $381,461.08. Following the completion of the sale, the chief executive officer now directly owns 549,610 shares in the company, valued at approximately $22,006,384.40. This represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $229,572.50.

Wayfair Stock Performance

NYSE:W 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 firm’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $40.01. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of -9.62 and a beta of 2.93.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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. During the same period in the prior year, the business posted ($0.32) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on W shares. Stifel Nicolaus lowered their price target on Wayfair from $46.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $25.00 price target on shares of Wayfair in a research report on Friday, April 25th. Wedbush upgraded shares of Wayfair to a “hold” rating in a research note on Thursday, May 1st. Guggenheim lowered their price objective on shares of Wayfair from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Bank of America raised their target price on shares of Wayfair from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. Capital World Investors grew its holdings in shares of Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after purchasing an additional 782,757 shares in the last quarter. Vanguard Group Inc. lifted its position in Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares during the period. Baillie Gifford & Co. lifted its position in Wayfair by 13.6% during the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after purchasing an additional 740,641 shares during the period. Alyeska Investment Group L.P. grew its stake in Wayfair by 681.8% during the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after buying an additional 4,763,944 shares in the last quarter. Finally, Southpoint Capital Advisors LP increased its holdings 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 buying an additional 1,200,000 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.

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.