Employees Retirement System of Texas Buys 7,813 Shares of Wayfair Inc. (NYSE:W)

Employees Retirement System of Texas increased its stake in shares of Wayfair Inc. (NYSE:W) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Wayfair by 3.6% during the 4th 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 during the period. Groupama Asset Managment raised its holdings in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Wayfair in the fourth quarter worth $6,799,000. Wellington Management Group LLP boosted its holdings in Wayfair by 22.4% in the third quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock valued at $61,676,000 after acquiring an additional 201,157 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Wayfair by 5.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after purchasing an additional 2,250 shares during the period. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Performance

Shares of NYSE W opened at $25.95 on Monday. The firm’s fifty day moving average is $39.50 and its two-hundred day moving average is $44.63. Wayfair Inc. has a 52-week low of $20.41 and a 52-week high of $76.18. The company has a market cap of $3.29 billion, a P/E ratio of -6.46 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) 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. As a group, analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total value of $1,453,500.00. Following the sale, the insider now owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 23,835 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the transaction, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. 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 90 days. 26.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on W shares. Stifel Nicolaus cut their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Raymond James set a $60.00 price objective on Wayfair and gave the company a “strong-buy” rating in a research report on Friday, February 21st. Bank of America lowered their target price on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Citigroup lowered Wayfair from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $28.00 in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.84.

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.