Public Employees Retirement System of Ohio Buys Shares of 31,092 Wayfair Inc. $W

Public Employees Retirement System of Ohio purchased a new position in Wayfair Inc. (NYSE:W) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 31,092 shares of the company’s stock, valued at approximately $2,874,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of W. Piper Sandler & CO. bought a new position in Wayfair in the fourth quarter worth approximately $34,000. Havemeyer Place LP purchased a new stake in Wayfair during the fourth quarter worth $39,000. EverSource Wealth Advisors LLC boosted its position in Wayfair by 393.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after acquiring an additional 653 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Wayfair in the 4th quarter valued at $44,000. Finally, Larson Financial Group LLC raised its position in shares of Wayfair by 30.0% in the 3rd quarter. Larson Financial Group LLC now owns 520 shares of the company’s stock worth $46,000 after acquiring an additional 120 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Wayfair news, CEO Niraj Shah sold 69,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer owned 360,137 shares of the company’s stock, valued at approximately $37,223,760.32. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction 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 sale, the director owned 360,073 shares of the company’s stock, valued at $37,217,145.28. The trade was a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 143,925 shares of company stock valued at $14,834,198. Insiders own 18.44% of the company’s stock.

Wayfair Stock Performance

Shares of NYSE W opened at $99.46 on Friday. Wayfair Inc. has a fifty-two week low of $55.60 and a fifty-two week high of $119.98. The company has a market cap of $13.13 billion, a PE ratio of -40.43, a P/E/G ratio of 3.89 and a beta of 2.99. The business has a 50-day simple moving average of $96.18 and a two-hundred day simple moving average of $82.16.

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, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, sell-side analysts predict that Wayfair Inc. will post 0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on W shares. Wedbush raised their price objective on Wayfair from $85.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Robert W. Baird set a $116.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Needham & Company LLC increased their price target on shares of Wayfair from $83.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and issued a $108.00 price target on shares of Wayfair in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Wayfair from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.89.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.