Public Employees Retirement System of Ohio Invests $2.87 Million in Wayfair Inc. $W

Key Points

• Public Employees Retirement System of Ohio purchased 31,092 Wayfair shares worth approximately $2.87 million, while institutional investors collectively own 89.67% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $119.89; recent targets range from $90 to $135.
• Wayfair reported quarterly earnings of $0.95 per share and revenue of $3.52 billion, exceeding estimates, though the company remains unprofitable with a negative net margin. Insiders sold approximately $14.8 million of shares over the past three months.

Public Employees Retirement System of Ohio bought a new stake in shares of Wayfair Inc. (NYSE:W - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,092 shares of the company's stock, valued at approximately $2,874,000.

A number of other institutional investors have also recently made changes to their positions in the business. Handelsbanken Fonder AB increased its stake in Wayfair by 10.9% during the second quarter. Handelsbanken Fonder AB now owns 34,500 shares of the company's stock worth $3,188,000 after acquiring an additional 3,400 shares during the last quarter. Chemistry Wealth Management LLC lifted its stake in shares of Wayfair by 5.9% in the 2nd quarter. Chemistry Wealth Management LLC now owns 45,368 shares of the company's stock valued at $4,193,000 after purchasing an additional 2,534 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Wayfair by 42.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company's stock worth $75,654,000 after purchasing an additional 242,791 shares during the period. Versant Capital Management Inc increased its position in shares of Wayfair by 34.5% during the 2nd quarter. Versant Capital Management Inc now owns 3,411 shares of the company's stock valued at $315,000 after purchasing an additional 874 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Wayfair by 67.7% during the 1st quarter. Empowered Funds LLC now owns 6,829 shares of the company's stock valued at $514,000 after purchasing an additional 2,758 shares during the last quarter. Institutional investors own 89.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho dropped their price objective on shares of Wayfair from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. The Goldman Sachs Group restated a "neutral" rating on shares of Wayfair in a report on Wednesday, August 5th. Wedbush lifted their price target on shares of Wayfair from $85.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Guggenheim upped their price target on shares of Wayfair from $100.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Citigroup raised their price objective on shares of Wayfair from $95.00 to $133.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.89.

Wayfair Trading Up 2.6%

Shares of W opened at $99.46 on Friday. The firm has a fifty day moving average price of $96.18 and a 200-day moving average price of $82.16. The firm has a market capitalization of $13.13 billion, a P/E ratio of -40.43, a P/E/G ratio of 3.89 and a beta of 2.99. Wayfair Inc. has a 12-month low of $55.60 and a 12-month high of $119.98.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. Analysts predict that Wayfair Inc. will post 0.83 earnings per share for the current year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the sale, the insider owned 117,344 shares of the company's stock, valued at approximately $11,299,053.76. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Conine sold 69,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the sale, the director owned 360,073 shares of the company's stock, valued at $37,217,145.28. The trade was a 16.08% 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. Over the last three months, insiders have sold 143,925 shares of company stock valued at $14,834,198. 18.44% of the stock is currently owned by company insiders.

About Wayfair

Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.

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