New York State Common Retirement Fund Trims Stock Position in Wayfair Inc. (NYSE:W)

New York State Common Retirement Fund decreased its stake in Wayfair Inc. (NYSE:W) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,759 shares of the company’s stock after selling 6,200 shares during the period. New York State Common Retirement Fund’s holdings in Wayfair were worth $2,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Creative Planning boosted its position in shares of Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Wayfair by 3,988.6% in the third quarter. International Assets Investment Management LLC now owns 45,056 shares of the company’s stock valued at $2,531,000 after acquiring an additional 43,954 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Wayfair during the third quarter worth approximately $304,000. Nisa Investment Advisors LLC increased its holdings in shares of Wayfair by 801.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock valued at $2,385,000 after acquiring an additional 37,750 shares during the period. Finally, Optas LLC purchased a new stake in Wayfair in the 3rd quarter valued at $270,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Canaccord Genuity Group dropped their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Citigroup decreased their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Loop Capital lowered their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Finally, Stifel Nicolaus cut their price target on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $58.12.

Wayfair Price Performance

Shares of NYSE:W opened at $39.59 on Friday. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -9.85 and a beta of 3.43. The business’s 50 day simple moving average is $45.62 and its 200-day simple moving average is $46.54. Wayfair Inc. has a 12 month low of $37.35 and a 12 month high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the sale, the insider now owns 559,073 shares in the company, valued at approximately $25,901,852.09. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 8,249 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total value of $370,462.59. Following the completion of the transaction, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at approximately $4,336,374.87. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock valued at $7,830,018 in the last 90 days. 26.81% of the stock is currently owned by insiders.

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.