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

State of New Jersey Common Pension Fund D lifted its stake in shares of Wayfair Inc. (NYSE:W) by 24.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,595 shares of the company’s stock after acquiring an additional 8,675 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wayfair were worth $2,505,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Wayfair in the third quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair in the 2nd quarter valued at about $58,000. Comerica Bank grew 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 purchasing an additional 829 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair in the second quarter valued at approximately $109,000. Finally, Quarry LP lifted its position in Wayfair by 880.0% during the second quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after buying an additional 2,288 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 4,600 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,868 shares of company stock worth $2,003,248 over the last 90 days. Insiders own 26.81% of the company’s stock.

Wayfair Stock Performance

NYSE:W opened at $38.49 on Thursday. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -8.57 and a beta of 3.46. Wayfair Inc. has a one year low of $37.51 and a one year high of $76.18. The stock has a 50-day simple moving average of $48.36 and a 200 day simple moving average of $51.69.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.38) earnings per share. On average, equities research analysts forecast that Wayfair Inc. will post -2.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on W. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets lowered their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus reduced their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada lowered their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Finally, Barclays reduced their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Thirteen research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.28.

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.