Arizona State Retirement System Acquires 624 Shares of Wayfair Inc. (NYSE:W)

Arizona State Retirement System lifted its holdings in shares of Wayfair Inc. (NYSE:W) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 26,951 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Arizona State Retirement System’s holdings in Wayfair were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. J.Safra Asset Management Corp increased its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Wayfair by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company’s stock worth $44,733,000 after acquiring an additional 35,057 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in Wayfair in the 4th quarter worth about $204,000. Finally, IFP Advisors Inc increased its holdings in Wayfair by 1,156.6% in the 4th quarter. IFP Advisors Inc now owns 3,732 shares of the company’s stock worth $165,000 after acquiring an additional 3,435 shares during the last quarter. 89.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on W shares. Wedbush reissued a “neutral” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Royal Bank of Canada decreased their price objective on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Raymond James set a $60.00 price objective on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Stifel Nicolaus reduced their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Wayfair in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Insider Buying and Selling at Wayfair

In related news, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares in the company, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kate Gulliver sold 5,974 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $44.95, for a total value of $268,531.30. Following the transaction, the chief financial officer now owns 129,964 shares of the company’s stock, valued at approximately $5,841,881.80. This represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,228 shares of company stock worth $6,235,818. 26.81% of the stock is currently owned by insiders.

Wayfair Price Performance

NYSE:W opened at $31.05 on Friday. The business has a 50 day moving average of $43.66 and a 200 day moving average of $45.93. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -7.72 and a beta of 3.44. Wayfair Inc. has a 1-year low of $31.00 and a 1-year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data 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 business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts anticipate that Wayfair Inc. will post -2.54 EPS for the current year.

Wayfair 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.