Teachers Retirement System of The State of Kentucky Acquires 13,832 Shares of Wayfair Inc. (NYSE:W)

Teachers Retirement System of The State of Kentucky boosted its holdings in Wayfair Inc. (NYSE:W) by 12.3% during the second quarter, Holdings Channel.com reports. The fund owned 126,552 shares of the company’s stock after buying an additional 13,832 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Wayfair were worth $6,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Truist Financial Corp lifted its stake in Wayfair by 46.6% during the second quarter. Truist Financial Corp now owns 9,527 shares of the company’s stock worth $502,000 after purchasing an additional 3,028 shares during the last quarter. Quarry LP lifted its position in Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock worth $134,000 after buying an additional 2,288 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Wayfair by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock worth $948,000 after buying an additional 1,355 shares in the last quarter. Maverick Capital Ltd. boosted its stake in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after buying an additional 227,908 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Wayfair during the second quarter valued at approximately $4,904,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 4,395 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the sale, the insider now directly owns 43,926 shares of the company’s stock, valued at $2,463,809.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jon Blotner sold 4,395 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the transaction, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. The disclosure for this sale can be found here. Insiders sold a total of 15,826 shares of company stock valued at $842,890 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Price Performance

NYSE:W opened at $53.04 on Thursday. The firm’s 50-day moving average price is $46.72 and its 200-day moving average price is $54.43. The company has a market capitalization of $6.38 billion, a PE ratio of -9.90 and a beta of 3.40. Wayfair Inc. has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company earned ($1.27) earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Wayfair Inc. will post -2.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

W has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Bank of America lowered Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. Gordon Haskett downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

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.