VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Wayfair Inc. $W

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Wayfair Inc. (NYSE:W) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 21,656 shares of the company’s stock, valued at approximately $2,001,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. California State Teachers Retirement System grew its position 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 buying an additional 10,948,909 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Wayfair during the second quarter valued at approximately $1,298,000. HB Wealth Management LLC bought a new position in shares of Wayfair during the second quarter valued at approximately $394,000. AlphaGrep UK Ltd purchased a new stake in Wayfair in the second quarter worth $258,000. Finally, Odyssean LLC purchased a new stake in Wayfair in the second quarter worth $1,626,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wayfair Stock Up 1.3%

NYSE W opened at $98.73 on Friday. The firm has a market capitalization of $13.03 billion, a PE ratio of -40.14, a P/E/G ratio of 3.50 and a beta of 2.99. The stock’s 50 day moving average is $96.67 and its 200 day moving average is $82.69. Wayfair Inc. has a twelve month low of $55.60 and a twelve month high of $119.98.

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

Insider Transactions at Wayfair

In related news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the transaction, the director directly owned 360,073 shares of the company’s stock, valued at $37,217,145.28. This trade represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 360,137 shares in the company, valued at $37,223,760.32. The trade was a 16.08% 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. Insiders have sold 150,893 shares of company stock valued at $15,532,531 in the last three months. 18.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on W. Wedbush boosted their price objective on shares of Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. UBS Group raised their target price on shares of Wayfair from $118.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and set a $130.00 target price on shares of Wayfair in a research note on Wednesday, August 5th. Citigroup boosted their price target on shares of Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC increased their price target on shares of Wayfair from $83.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.89.

About Wayfair

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.