Wayfair Inc. $W Stock Holdings Lowered by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its position in shares of Wayfair Inc. (NYSE:W) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,765 shares of the company’s stock after selling 4,925 shares during the period. Illinois Municipal Retirement Fund’s holdings in Wayfair were worth $7,976,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Heritage Family Offices LLP bought a new position in Wayfair in the third quarter worth approximately $45,000. Fortitude Family Office LLC grew its stake in Wayfair by 144.7% in the third quarter. Fortitude Family Office LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 272 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Wayfair during the 3rd quarter worth approximately $53,000. Reyes Financial Architecture Inc. acquired a new stake in Wayfair in the third quarter valued at approximately $82,000. Finally, IFP Advisors Inc grew its holdings in Wayfair by 79.2% in the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $75,000 after purchasing an additional 358 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Stock Performance

Shares of W opened at $111.37 on Friday. The stock has a 50-day moving average of $107.15 and a two-hundred day moving average of $89.26. Wayfair Inc. has a one year low of $55.60 and a one year high of $127.99. The stock has a market cap of $14.70 billion, a P/E ratio of 117.97, a P/E/G ratio of 5.18 and a beta of 3.10.

Wayfair (NYSE:W) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Wayfair had a negative return on equity of 5.14% and a negative net margin of 1.21%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. Analysts predict that Wayfair Inc. will post 0.97 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, Director Steven Conine sold 117,000 shares of Wayfair stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $111.25, for a total transaction of $13,016,250.00. Following the completion of the sale, the director owned 105,073 shares of the company’s stock, valued at $11,689,371.25. The trade was a 52.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 117,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $111.25, for a total value of $13,016,250.00. Following the completion of the sale, the chief executive officer owned 105,137 shares in the company, valued at approximately $11,696,491.25. This represents a 52.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 554,070 shares of company stock worth $59,832,364 over the last three months. 18.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Rosenblatt Securities started coverage on Wayfair in a research report on Thursday, August 20th. They set a “buy” rating and a $125.00 target price on the stock. Evercore initiated coverage on shares of Wayfair in a research report on Friday, November 6th. They issued a “strong-buy” rating for the company. Wedbush lifted their target price on shares of Wayfair from $125.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Argus boosted their target price on shares of Wayfair from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Wayfair from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and a consensus target price of $128.68.

About Wayfair

Wayfair Inc. is an e-commerce company focused on furniture and home furnishings. Its online platform offers products for living rooms, bedrooms, kitchens, bathrooms, outdoor spaces and other areas of the home, including furniture, décor, lighting, rugs and housewares. The company operates a portfolio of retail brands, including Wayfair, AllModern, Birch Lane, Joss & Main and Perigold. It serves customers primarily in the United States and Canada, as well as in select international markets. Wayfair was founded in 2002 by Niraj Shah and Steve Conine as CSN Stores and adopted the Wayfair name in 2011.