State Board of Administration of Florida Retirement System Has $4.50 Million Stock Holdings in Wayfair Inc. (NYSE:W)

State Board of Administration of Florida Retirement System raised its holdings in Wayfair Inc. (NYSE:WGet Rating) by 15.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,365 shares of the company’s stock after acquiring an additional 13,931 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Wayfair worth $4,503,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Wayfair by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 207,244 shares of the company’s stock valued at $22,958,000 after purchasing an additional 3,007 shares during the period. Keybank National Association OH raised its position in shares of Wayfair by 51.6% in the first quarter. Keybank National Association OH now owns 2,472 shares of the company’s stock valued at $274,000 after purchasing an additional 841 shares during the period. SG Americas Securities LLC raised its position in shares of Wayfair by 579.7% in the first quarter. SG Americas Securities LLC now owns 44,958 shares of the company’s stock valued at $4,980,000 after purchasing an additional 38,344 shares during the period. Waycross Partners LLC raised its position in shares of Wayfair by 182.2% in the first quarter. Waycross Partners LLC now owns 5,246 shares of the company’s stock valued at $581,000 after purchasing an additional 3,387 shares during the period. Finally, Garner Asset Management Corp raised its position in shares of Wayfair by 38.2% in the first quarter. Garner Asset Management Corp now owns 2,280 shares of the company’s stock valued at $253,000 after purchasing an additional 630 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Stock Performance

Shares of NYSE:W opened at $41.47 on Monday. The company’s fifty day moving average is $37.95 and its 200-day moving average is $50.08. The company has a market capitalization of $4.40 billion, a PE ratio of -3.70 and a beta of 2.92. Wayfair Inc. has a 52 week low of $28.11 and a 52 week high of $298.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on W shares. MKM Partners dropped their price target on shares of Wayfair from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Piper Sandler dropped their price target on shares of Wayfair from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 20th. Morgan Stanley dropped their target price on shares of Wayfair from $65.00 to $30.00 and set an “underweight” rating on the stock in a research report on Friday, November 4th. StockNews.com raised shares of Wayfair to a “sell” rating in a research report on Monday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Wayfair from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, November 4th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Wayfair presently has a consensus rating of “Hold” and an average target price of $79.69.

Insider Buying and Selling

In related news, insider Steve Oblak sold 1,687 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $46.59, for a total transaction of $78,597.33. Following the transaction, the insider now owns 160,746 shares in the company, valued at approximately $7,489,156.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Wayfair news, COO Thomas Netzer sold 1,885 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $36.70, for a total transaction of $69,179.50. Following the completion of the sale, the chief operating officer now directly owns 54,676 shares of the company’s stock, valued at approximately $2,006,609.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Oblak sold 1,687 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $46.59, for a total value of $78,597.33. Following the sale, the insider now directly owns 160,746 shares of the company’s stock, valued at $7,489,156.14. The disclosure for this sale can be found here. Insiders have sold a total of 28,309 shares of company stock worth $1,054,126 in the last 90 days. Corporate insiders own 26.81% of the company’s stock.

Wayfair Company Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Institutional Ownership by Quarter for Wayfair (NYSE:W)

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