Niraj Shah Sells 10,000 Shares of Wayfair Inc. (NYSE:W) Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $70.37, for a total transaction of $703,700.00. Following the sale, the chief executive officer now owns 309,137 shares in the company, valued at $21,753,970.69. The sale was disclosed in a filing with the SEC, which is available at this link.

Wayfair Trading Up 0.3 %

NYSE W opened at $71.15 on Friday. The company has a fifty day simple moving average of $71.09 and a two-hundred day simple moving average of $51.00. The stock has a market cap of $8.25 billion, a P/E ratio of -7.45 and a beta of 3.18. Wayfair Inc. has a 12-month low of $28.11 and a 12-month high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($1.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.33) by $1.06. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.10 billion. As a group, sell-side analysts forecast that Wayfair Inc. will post -7.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on W. Barclays increased their price objective on shares of Wayfair from $40.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. UBS Group raised shares of Wayfair from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $110.00 in a research report on Monday, August 7th. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Wayfair in a research report on Monday, August 14th. TD Cowen raised their target price on shares of Wayfair from $60.00 to $78.00 and gave the stock a “market perform” rating in a research report on Friday, August 4th. Finally, Royal Bank of Canada raised their target price on shares of Wayfair from $39.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.46.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in shares of Wayfair during the second quarter worth $31,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Wayfair during the second quarter worth $45,000. Captrust Financial Advisors increased its holdings in Wayfair by 102.6% in the first quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock valued at $86,000 after buying an additional 395 shares in the last quarter. State of Wyoming acquired a new position in shares of Wayfair in the second quarter worth about $54,000. Finally, IFP Advisors Inc raised its position in shares of Wayfair by 169.5% in the fourth quarter. IFP Advisors Inc now owns 919 shares of the company’s stock worth $96,000 after acquiring an additional 578 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.