Illinois Municipal Retirement Fund Has $4.08 Million Holdings in Wayfair Inc. $W

Illinois Municipal Retirement Fund lifted its position in Wayfair Inc. (NYSE:W) by 42.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,309 shares of the company’s stock after acquiring an additional 16,077 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Wayfair were worth $4,085,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in W. Webster Bank N. A. acquired a new stake in Wayfair during the 4th quarter valued at $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Wayfair in the fourth quarter worth $33,000. Piper Sandler & CO. acquired a new stake in shares of Wayfair in the fourth quarter worth $34,000. Havemeyer Place LP purchased a new position in shares of Wayfair during the fourth quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after buying an additional 653 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Trading Down 2.1%

W opened at $89.58 on Friday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of -38.28, a PEG ratio of 4.70 and a beta of 2.96. Wayfair Inc. has a 1 year low of $55.01 and a 1 year high of $119.98. The stock has a fifty day moving average price of $78.82 and a 200 day moving average price of $83.69.

Wayfair (NYSE:W) last issued its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

W has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Wayfair in a research note on Wednesday, May 20th. Mizuho lowered their target price on Wayfair from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Zacks Research upgraded Wayfair from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Wells Fargo & Company reduced their price target on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, Jefferies Financial Group decreased their price target on shares of Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total value of $570,518.25. Following the completion of the sale, the insider directly owned 117,344 shares in the company, valued at $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Niraj Shah sold 6,137 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the sale, the chief executive officer directly owned 429,137 shares of the company’s stock, valued at $33,738,750.94. This represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 245,925 shares of company stock valued at $19,183,749. 18.44% of the stock is owned by corporate insiders.

Wayfair 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.