Maryland State Retirement & Pension System Purchases Shares of 5,273 Wayfair Inc. $W

Maryland State Retirement & Pension System purchased a new stake in Wayfair Inc. (NYSE:W) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,273 shares of the company’s stock, valued at approximately $270,000.

A number of other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock worth $16,786,000 after buying an additional 276,471 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Wayfair during the 1st quarter worth about $452,000. Signaturefd LLC lifted its stake in shares of Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after buying an additional 34,507 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Wayfair by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 21,963 shares of the company’s stock worth $703,000 after buying an additional 9,372 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Wayfair by 4.3% during the 1st quarter. Rhumbline Advisers now owns 91,272 shares of the company’s stock worth $2,923,000 after buying an additional 3,725 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

Analysts Set New Price Targets

W has been the subject of a number of research reports. BMO Capital Markets restated a “market perform” rating and set a $68.00 target price (up previously from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Truist Financial raised their target price on shares of Wayfair from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Zacks Research cut shares of Wayfair from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Citigroup raised their target price on shares of Wayfair from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Wayfair in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $73.73.

Wayfair Trading Up 3.9%

W opened at $79.17 on Wednesday. The company’s fifty day moving average price is $81.42 and its two-hundred day moving average price is $56.61. Wayfair Inc. has a 1-year low of $20.41 and a 1-year high of $91.77. The company has a market cap of $10.27 billion, a price-to-earnings ratio of -32.99 and a beta of 3.03.

Wayfair (NYSE:W) last released its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 85,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $86.79, for a total value of $7,377,150.00. Following the completion of the sale, the chief executive officer owned 374,137 shares in the company, valued at $32,471,350.23. This represents a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the insider owned 374,073 shares of the company’s stock, valued at approximately $32,465,795.67. The trade was a 18.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 910,000 shares of company stock valued at $70,308,337. Company insiders own 21.91% of the company’s stock.

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.