California Public Employees Retirement System Cuts Holdings in Wayfair Inc. (NYSE:W)

California Public Employees Retirement System lowered its stake in shares of Wayfair Inc. (NYSE:W) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,010 shares of the company’s stock after selling 6,226 shares during the period. California Public Employees Retirement System owned 0.10% of Wayfair worth $7,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Wayfair by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,830,300 shares of the company’s stock worth $474,281,000 after purchasing an additional 386,717 shares in the last quarter. Atreides Management LP boosted its holdings in Wayfair by 1.8% in the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock worth $58,826,000 after acquiring an additional 16,932 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Wayfair by 67.7% during the third quarter. Wellington Management Group LLP now owns 644,622 shares of the company’s stock worth $39,045,000 after acquiring an additional 260,237 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Wayfair by 88.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 634,611 shares of the company’s stock valued at $38,438,000 after acquiring an additional 297,235 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Wayfair by 422.6% in the 3rd quarter. AQR Capital Management LLC now owns 511,454 shares of the company’s stock worth $30,979,000 after purchasing an additional 413,592 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $60.58, for a total value of $59,610.72. Following the transaction, the chief operating officer now directly owns 117,841 shares in the company, valued at approximately $7,138,807.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares in the company, valued at $1,616,820.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 984 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $60.58, for a total value of $59,610.72. Following the transaction, the chief operating officer now directly owns 117,841 shares in the company, valued at approximately $7,138,807.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,156 shares of company stock worth $5,465,688. Company insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

Shares of Wayfair stock opened at $63.60 on Friday. The business’s 50 day moving average price is $59.92 and its 200 day moving average price is $55.16. The company has a market cap of $7.65 billion, a price-to-earnings ratio of -9.75 and a beta of 3.32. Wayfair Inc. has a one year low of $33.85 and a one year high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. On average, analysts predict that Wayfair Inc. will post -3.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on W. Mizuho started coverage on shares of Wayfair in a research note on Tuesday, March 19th. They set a “buy” rating and a $72.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $70.00 price target on shares of Wayfair in a research note on Friday. Citigroup raised their price objective on Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Royal Bank of Canada dropped their target price on Wayfair from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Finally, TD Cowen raised their price target on shares of Wayfair from $55.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.45.

Wayfair Company 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.