Employees Retirement System of Texas Increases Holdings in Wayfair Inc. (NYSE:W)

Employees Retirement System of Texas increased its position in Wayfair Inc. (NYSE:W) by 28.5% during the 4th quarter, Holdings Channel reports. The firm owned 35,270 shares of the company’s stock after acquiring an additional 7,813 shares during the quarter. Employees Retirement System of Texas’ holdings in Wayfair were worth $15,632,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Baillie Gifford & Co. boosted its position in Wayfair by 13.6% during the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after acquiring an additional 740,641 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Wayfair by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company’s stock worth $68,584,000 after acquiring an additional 22,078 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Wayfair by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after acquiring an additional 201,157 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock worth $44,733,000 after purchasing an additional 35,057 shares during the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 5,669 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now directly owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,532 shares of company stock valued at $5,090,232 over the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

W has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Wayfair in a research note on Friday, February 21st. BMO Capital Markets boosted their price objective on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Wayfair in a research report on Monday, March 10th. Raymond James set a $60.00 price target on shares of Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Finally, StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.84.

Wayfair Stock Up 3.4 %

Shares of Wayfair stock opened at $25.95 on Monday. The firm has a market cap of $3.29 billion, a PE ratio of -6.46 and a beta of 3.72. The business has a 50-day moving average price of $39.50 and a 200 day moving average price of $44.63. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, sell-side analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

About Wayfair

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.