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 firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $52.62, for a total transaction of $526,200.00. Following the sale, the chief executive officer now directly owns 209,137 shares in the company, valued at $11,004,788.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wayfair Trading Up 1.1 %

Wayfair stock opened at $53.42 on Thursday. The stock has a 50 day moving average of $58.80 and a 200-day moving average of $57.85. The stock has a market cap of $6.43 billion, a P/E ratio of -9.97 and a beta of 3.43. Wayfair Inc. has a 52 week low of $38.37 and a 52 week high of $90.71.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.11. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, equities analysts predict that Wayfair Inc. will post -2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

W has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Wayfair from $63.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Wayfair in a research note on Thursday, May 16th. Piper Sandler reissued an “overweight” rating and issued a $91.00 target price (up from $88.00) on shares of Wayfair in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their price target on shares of Wayfair from $61.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after acquiring an additional 271 shares during the period. Treasurer of the State of North Carolina boosted its position in Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after purchasing an additional 360 shares during the period. Amalgamated Bank grew its stake in Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after buying an additional 397 shares during the last quarter. QRG Capital Management Inc. increased its position in Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after buying an additional 399 shares during the period. Finally, Riverview Trust Co acquired a new stake in Wayfair in the first quarter worth $27,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.