New York State Common Retirement Fund boosted its position in Wayfair Inc. (NYSE:W) by 138.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,800 shares of the company’s stock after acquiring an additional 48,699 shares during the period. New York State Common Retirement Fund owned 0.10% of Wayfair worth $6,443,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Laurion Capital Management LP bought a new position in Wayfair in the second quarter valued at about $1,287,000. Amalgamated Bank bought a new position in Wayfair in the second quarter valued at about $537,000. Ameriprise Financial Inc. boosted its holdings in Wayfair by 13.3% in the second quarter. Ameriprise Financial Inc. now owns 46,171 shares of the company’s stock valued at $3,550,000 after acquiring an additional 5,409 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Wayfair by 45.6% in the second quarter. TIAA CREF Investment Management LLC now owns 196,234 shares of the company’s stock valued at $15,086,000 after acquiring an additional 61,458 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Wayfair by 27.6% in the second quarter. Teachers Advisors LLC now owns 135,395 shares of the company’s stock valued at $10,409,000 after acquiring an additional 29,311 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned ($0.43) EPS. The firm’s revenue for the quarter was up 42.7% compared to the same quarter last year.
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In other Wayfair news, insider John Champlin Mulliken sold 971 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $76.57, for a total value of $74,349.47. Following the transaction, the insider now owns 193,827 shares in the company, valued at $14,841,333.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edmond Macri sold 1,570 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $76.07, for a total value of $119,429.90. Following the completion of the transaction, the insider now owns 2,756 shares in the company, valued at approximately $209,648.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 712,551 shares of company stock worth $52,425,648. 56.93% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on W shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $89.00 price target on shares of Wayfair in a report on Friday, September 8th. Maxim Group cut Wayfair from a “buy” rating to a “hold” rating and raised their target price for the stock from $27.60 to $76.17 in a report on Monday, June 19th. They noted that the move was a valuation call. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $88.00 target price on shares of Wayfair in a report on Wednesday, September 13th. Finally, Buckingham Research restated a “buy” rating and set a $95.00 target price (up previously from $72.00) on shares of Wayfair in a report on Thursday, July 13th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $77.07.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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