State of New Jersey Common Pension Fund D Decreases Stock Holdings in Wayfair Inc. (NYSE:W)

State of New Jersey Common Pension Fund D reduced its position in shares of Wayfair Inc. (NYSE:W) by 32.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,920 shares of the company’s stock after selling 17,197 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Wayfair were worth $1,894,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Wayfair during the 1st quarter valued at approximately $27,000. ORG Partners LLC bought a new position in Wayfair in the 1st quarter worth approximately $37,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair during the 2nd quarter worth approximately $58,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Wayfair during the 4th quarter worth approximately $74,000. Finally, Comerica Bank raised its holdings in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after acquiring an additional 829 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on W. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Guggenheim dropped their price objective on Wayfair from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada decreased their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Piper Sandler reduced their price objective on Wayfair from $91.00 to $67.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Twelve investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.63.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,801 shares of Wayfair stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total value of $244,610.95. Following the completion of the transaction, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total transaction of $336,152.50. Following the completion of the sale, the chief operating officer now owns 157,239 shares in the company, valued at approximately $7,978,306.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Blotner sold 4,801 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the sale, the insider now owns 53,152 shares of the company’s stock, valued at approximately $2,708,094.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,113 shares of company stock valued at $2,126,623. 26.81% of the stock is currently owned by insiders.

Wayfair Stock Performance

Shares of NYSE:W opened at $52.85 on Monday. Wayfair Inc. has a one year low of $38.02 and a one year high of $76.18. The business’s fifty day moving average price is $46.48 and its two-hundred day moving average price is $54.80. The stock has a market cap of $6.36 billion, a PE ratio of -9.86 and a beta of 3.40.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business earned ($1.27) earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts predict that Wayfair Inc. will post -2.66 earnings per share for the current fiscal 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.