Wayfair Inc. (NYSE:W – Get Free Report) CEO Niraj Shah sold 10,000 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $53.42, for a total value of $534,200.00. Following the completion of the sale, the chief executive officer now owns 299,137 shares in the company, valued at $15,979,898.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Niraj Shah also recently made the following trade(s):
On Thursday, September 7th, Niraj Shah sold 10,000 shares of Wayfair stock. The stock was sold at an average price of $70.37, for a total transaction of $703,700.00.
Wayfair Stock Performance
Shares of NYSE W traded down $0.97 during mid-day trading on Wednesday, hitting $54.47. 2,665,640 shares of the stock traded hands, compared to its average volume of 5,169,729. The company has a market cap of $6.32 billion, a price-to-earnings ratio of -5.80 and a beta of 3.17. The stock has a fifty day moving average price of $67.95 and a 200-day moving average price of $55.08. Wayfair Inc. has a 52 week low of $28.11 and a 52 week high of $90.71.
Wayfair (NYSE:W – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($2.33) by $1.06. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.10 billion. As a group, sell-side analysts predict that Wayfair Inc. will post -7.33 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on W shares. UBS Group upgraded shares of Wayfair from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $110.00 in a research note on Monday, August 7th. Citigroup increased their price objective on Wayfair from $88.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity Group upped their price target on Wayfair from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Piper Sandler upgraded shares of Wayfair from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $97.00 in a research report on Monday, July 31st. Finally, TD Cowen boosted their price objective on shares of Wayfair from $60.00 to $78.00 and gave the company a “market perform” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.00.
Institutional Trading of Wayfair
A number of hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC purchased a new stake in Wayfair during the 3rd quarter valued at about $521,000. CWM LLC grew its holdings in shares of Wayfair by 69.6% during the third quarter. CWM LLC now owns 3,295 shares of the company’s stock valued at $200,000 after buying an additional 1,352 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Wayfair during the third quarter valued at approximately $44,000. Alberta Investment Management Corp bought a new stake in shares of Wayfair during the second quarter valued at approximately $1,703,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Wayfair in the 2nd quarter worth approximately $1,599,000. 89.67% of the stock is owned by institutional investors.
About Wayfair
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.