VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2 Million Position in Wayfair Inc. $W

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Wayfair Inc. (NYSE:W) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,656 shares of the company’s stock, valued at approximately $2,001,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in Wayfair by 0.6% in the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock valued at $1,351,237,000 after acquiring an additional 82,584 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Wayfair by 9,141.5% in the 2nd quarter. California State Teachers Retirement System now owns 11,068,681 shares of the company’s stock worth $1,022,967,000 after purchasing an additional 10,948,909 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wayfair by 3.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock worth $542,950,000 after purchasing an additional 180,558 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Wayfair by 8.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after purchasing an additional 296,233 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Wayfair by 0.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after purchasing an additional 8,598 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on W. The Goldman Sachs Group reissued a “neutral” rating on shares of Wayfair in a report on Wednesday, August 5th. Evercore reiterated an “outperform” rating and set a $130.00 price target on shares of Wayfair in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC boosted their price objective on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Wayfair in a research note on Tuesday, August 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.89.

Wayfair Trading Up 1.3%

NYSE W opened at $98.73 on Friday. Wayfair Inc. has a 1-year low of $55.60 and a 1-year high of $119.98. The stock has a 50-day moving average of $96.67 and a 200-day moving average of $82.69. The firm has a market cap of $13.03 billion, a PE ratio of -40.14, a price-to-earnings-growth ratio of 3.50 and a beta of 2.99.

Wayfair (NYSE:W) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $0.87 EPS. Wayfair’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Wayfair Inc. will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, Director Steven Conine sold 69,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the sale, the director owned 360,073 shares of the company’s stock, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 6,968 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the transaction, the insider owned 110,376 shares in the company, valued at $11,061,882.72. This represents a 5.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 150,893 shares of company stock worth $15,532,531. 18.44% of the stock is currently owned by insiders.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.