Insider Selling: Wayfair (NYSE:W) CEO Sells $9,860,400.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 120,000 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the sale, the chief executive officer directly owned 169,137 shares in the company, valued at approximately $13,897,987.29. The trade was a 41.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 transaction 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.
• On Wednesday, August 20th, Niraj Shah sold 85,000 shares of Wayfair stock. The stock was sold at an average price of $80.07, for a total transaction of $6,805,950.00.
• On Wednesday, August 13th, Niraj Shah sold 199,422 shares of Wayfair stock. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80.
• On Thursday, August 7th, Niraj Shah sold 17,742 shares of Wayfair stock. The stock was sold at an average price of $77.29, for a total transaction of $1,371,279.18.
• On Wednesday, August 6th, Niraj Shah sold 7,836 shares of Wayfair stock. The stock was sold at an average price of $77.03, for a total transaction of $603,607.08.

Wayfair Trading Up 0.0%

Shares of Wayfair stock opened at $83.12 on Monday. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $91.77. The company has a market cap of $10.78 billion, a price-to-earnings ratio of -34.63 and a beta of 3.03. The company’s 50-day moving average price is $82.48 and its 200-day moving average price is $59.83.

Wayfair (NYSE:W) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating and issued a $68.00 price objective (up from $38.00) on shares of Wayfair in a research report on Tuesday, August 5th. Wedbush restated a “neutral” rating on shares of Wayfair in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Wayfair from $25.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 5th. Piper Sandler upped their price objective on shares of Wayfair from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Zelman & Associates upped their price objective on shares of Wayfair from $85.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of W. Alyeska Investment Group L.P. grew its position 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 valued at $174,969,000 after acquiring an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP boosted its stake in shares of Wayfair by 42.9% during the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after purchasing an additional 1,200,000 shares during the period. AQR Capital Management LLC boosted its stake in shares of Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock valued at $79,673,000 after purchasing an additional 1,033,865 shares during the period. Holocene Advisors LP boosted its stake in shares of Wayfair by 351.9% during the second quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after purchasing an additional 1,007,676 shares during the period. Finally, Spruce House Investment Management LLC boosted its stake in shares of Wayfair by 37.6% during the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock valued at $153,420,000 after purchasing an additional 819,615 shares during the period. 89.67% of the stock is currently owned by institutional investors.

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.