Niraj Shah Sells 2,258 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 2,258 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.01, for a total value of $90,342.58. Following the completion of the sale, the chief executive officer now owns 541,627 shares in the company, valued at approximately $21,670,496.27. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 value of $229,572.50.
• On Monday, May 12th, Niraj Shah sold 9,527 shares of Wayfair stock. The shares were sold at an average price of $40.04, for a total value of $381,461.08.

Wayfair Trading Up 2.2%

NYSE:W opened at $39.59 on Friday. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -9.85 and a beta of 2.93. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $68.87. The business’s fifty day moving average price is $31.13 and its 200 day moving average price is $39.96.

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

Analysts Set New Price Targets

W has been the topic of several research analyst reports. Raymond James set a $60.00 price target on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Citigroup lifted their price target on Wayfair from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Mizuho lowered their price target on Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their price target on Wayfair from $50.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Finally, Zelman & Associates initiated coverage on Wayfair in a research report on Thursday. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Fred Alger Management LLC boosted its position in Wayfair by 40.1% during the first quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock valued at $2,827,000 after purchasing an additional 25,260 shares during the last quarter. Scientech Research LLC boosted its position in Wayfair by 33.1% during the first quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock valued at $1,159,000 after purchasing an additional 9,003 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Wayfair by 29.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock valued at $2,147,000 after purchasing an additional 15,084 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Wayfair during the first quarter valued at $452,000. Finally, AQR Capital Management LLC boosted its position in Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after purchasing an additional 276,471 shares during the last quarter. 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.