Teacher Retirement System of Texas Buys 910 Shares of Wayfair Inc. $W

Teacher Retirement System of Texas raised its stake in Wayfair Inc. (NYSE:W) by 6.6% during the second quarter, HoldingsChannel.com reports. The fund owned 14,730 shares of the company’s stock after acquiring an additional 910 shares during the quarter. Teacher Retirement System of Texas’ holdings in Wayfair were worth $753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Alyeska Investment Group L.P. boosted its stake in shares of Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock valued at $174,969,000 after purchasing an additional 4,763,944 shares in the last quarter. Southpoint Capital Advisors LP lifted its holdings in Wayfair by 42.9% during the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock valued at $128,120,000 after purchasing an additional 1,200,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Wayfair by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,012,048 shares of the company’s stock valued at $32,416,000 after buying an additional 2,736 shares in the last quarter. AQR Capital Management LLC grew its stake in Wayfair by 111.7% during the first quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after buying an additional 276,471 shares during the last quarter. Finally, Beck Bode LLC bought a new stake in Wayfair during the first quarter worth about $13,322,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Steven Conine sold 199,473 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,638,683.20. Following the transaction, the insider directly owned 544,073 shares in the company, valued at $42,655,323.20. This represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 199,422 shares of Wayfair stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,634,684.80. Following the sale, the chief executive officer directly owned 544,137 shares of the company’s stock, valued at $42,660,340.80. This represents a 26.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,224,854 shares of company stock worth $101,371,042 in the last ninety days. Insiders own 21.91% of the company’s stock.

Wayfair Stock Up 8.6%

W stock opened at $107.18 on Friday. The company has a market cap of $13.90 billion, a P/E ratio of -41.87 and a beta of 3.03. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $108.72. The business has a fifty day moving average of $87.47 and a 200-day moving average of $64.78.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. Wayfair’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, equities research analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on W shares. Piper Sandler reissued an “overweight” rating and issued a $125.00 target price (up from $98.00) on shares of Wayfair in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price objective on Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Canaccord Genuity Group boosted their price objective on Wayfair from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Zelman & Associates raised their target price on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Zacks Research downgraded shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $103.96.

Wayfair Profile

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.