Teachers Retirement System of The State of Kentucky Purchases 36,389 Shares of Wayfair Inc. $W

Teachers Retirement System of The State of Kentucky grew its position in Wayfair Inc. (NYSE:W) by 28.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,160 shares of the company’s stock after purchasing an additional 36,389 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Wayfair were worth $12,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covenant Asset Management LLC bought a new position in Wayfair during the fourth quarter worth about $4,403,000. North Dakota State Investment Board bought a new stake in shares of Wayfair in the fourth quarter worth about $3,636,000. Divisadero Street Capital Management LP acquired a new stake in shares of Wayfair during the third quarter worth about $1,929,000. Vanguard Group Inc. raised its position in shares of Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock worth $967,426,000 after purchasing an additional 72,707 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Wayfair by 310.8% during the 3rd quarter. Algert Global LLC now owns 111,457 shares of the company’s stock valued at $9,956,000 after purchasing an additional 84,327 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho decreased their price objective on Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Truist Financial set a $99.00 price target on shares of Wayfair in a research note on Monday, June 8th. UBS Group reduced their price target on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research raised shares of Wayfair from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Finally, Canaccord Genuity Group dropped their price objective on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.68.

Wayfair Stock Performance

NYSE:W opened at $86.33 on Tuesday. The stock has a 50-day simple moving average of $76.82 and a 200 day simple moving average of $83.86. Wayfair Inc. has a 52-week low of $53.13 and a 52-week high of $119.98. The company has a market cap of $11.40 billion, a PE ratio of -36.90, a PEG ratio of 4.69 and a beta of 2.96.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting 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 firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven Conine sold 7,139 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $78.55, for a total value of $560,768.45. Following the sale, the director owned 429,073 shares of the company’s stock, valued at $33,703,684.15. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider owned 117,344 shares of the company’s stock, valued at $11,299,053.76. The trade was a 4.81% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 245,925 shares of company stock worth $19,183,749 over the last ninety days. Insiders own 18.44% of the company’s stock.

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.