Insider Selling: Wayfair Inc. (NYSE:W) CEO Sells $526,200.00 in Stock

Wayfair Inc. (NYSE:W) CEO Niraj Shah sold 10,000 shares of the stock in a transaction dated Monday, July 8th. The shares were 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 of the company’s stock, valued at $11,004,788.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wayfair Price Performance

Wayfair stock opened at $55.24 on Friday. Wayfair Inc. has a 1 year low of $38.37 and a 1 year high of $90.71. The company’s fifty day moving average price is $58.74 and its 200 day moving average price is $57.84.

Wayfair (NYSE:W) last announced its earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.11. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, sell-side 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 subject of several analyst reports. Sanford C. Bernstein increased their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their price objective on shares of Wayfair from $61.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday, May 6th. Evercore ISI raised shares of Wayfair from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $80.00 in a research report on Thursday, April 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $91.00 price objective (up from $88.00) on shares of Wayfair in a research report on Friday, May 3rd. Finally, Mizuho initiated coverage on shares of Wayfair in a research report on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Institutional Investors Weigh In On Wayfair

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Adage Capital Partners GP L.L.C. raised its holdings in Wayfair by 100.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 50,000 shares of the company’s stock valued at $3,028,000 after buying an additional 25,000 shares during the period. Neo Ivy Capital Management raised its holdings in Wayfair by 38.2% in the 3rd quarter. Neo Ivy Capital Management now owns 9,636 shares of the company’s stock valued at $584,000 after buying an additional 2,661 shares during the period. American Century Companies Inc. grew its position in Wayfair by 48.9% in the 3rd quarter. American Century Companies Inc. now owns 308,168 shares of the company’s stock valued at $18,666,000 after acquiring an additional 101,270 shares in the last quarter. Wellington Management Group LLP grew its position in Wayfair by 67.7% in the 3rd quarter. Wellington Management Group LLP now owns 644,622 shares of the company’s stock valued at $39,045,000 after acquiring an additional 260,237 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Wayfair by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock valued at $474,281,000 after acquiring an additional 386,717 shares in the last quarter. 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.