Wayfair Inc. (NYSE:W) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in Wayfair Inc. (NYSE:W) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 112,720 shares of the company’s stock after selling 350 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Wayfair were worth $7,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors grew its position in Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares during the period. Norges Bank acquired a new stake in Wayfair during the fourth quarter valued at $47,374,000. Kodai Capital Management LP acquired a new stake in Wayfair during the fourth quarter valued at $23,552,000. Vanguard Group Inc. grew its position in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after buying an additional 363,948 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in Wayfair during the first quarter valued at $13,690,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Price Performance

Wayfair stock traded down $2.24 during midday trading on Friday, hitting $47.77. 5,973,354 shares of the stock were exchanged, compared to its average volume of 4,472,972. Wayfair Inc. has a fifty-two week low of $38.37 and a fifty-two week high of $90.71. The stock’s 50-day simple moving average is $53.95 and its 200 day simple moving average is $57.22.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.11. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. Sell-side analysts anticipate that Wayfair Inc. will post -2.93 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now directly owns 64,074 shares in the company, valued at $3,244,707.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Steven Conine sold 10,000 shares of Wayfair stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the transaction, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 8,036 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the transaction, the chief technology officer now owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Insiders sold a total of 59,682 shares of company stock worth $3,306,949 over the last three months. Insiders own 26.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Gordon Haskett downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush decreased their price objective on shares of Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday. Stifel Nicolaus decreased their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday. Finally, Morgan Stanley increased their price objective on shares of Wayfair from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.52.

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.