Teacher Retirement System of Texas Takes $443,000 Position in Wayfair Inc. (NYSE:W)

Teacher Retirement System of Texas acquired a new stake in Wayfair Inc. (NYSE:W - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,820 shares of the company's stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after acquiring an additional 381 shares during the period. Jones Financial Companies Lllp increased its position in shares of Wayfair by 577.0% during the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after buying an additional 502 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Wayfair during the fourth quarter valued at about $41,000. GAMMA Investing LLC increased its position in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock valued at $42,000 after buying an additional 609 shares during the period. Finally, Stevens Capital Management LP bought a new stake in shares of Wayfair during the fourth quarter valued at about $218,000. 89.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on W shares. Mizuho cut their target price on Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Guggenheim cut their target price on Wayfair from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group cut their target price on Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered Wayfair from a "buy" rating to a "hold" rating and set a $25.00 target price for the company. in a research note on Monday, April 14th. Finally, BMO Capital Markets set a $38.00 target price on Wayfair in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Wayfair currently has a consensus rating of "Moderate Buy" and an average target price of $46.72.

Insider Activity

In related news, CEO Niraj Shah sold 179,707 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $52.58, for a total value of $9,448,994.06. Following the transaction, the chief executive officer directly owned 236,850 shares of the company's stock, valued at approximately $12,453,573. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 180,943 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total value of $9,515,792.37. Following the completion of the transaction, the insider directly owned 236,167 shares in the company, valued at approximately $12,420,022.53. This represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 680,731 shares of company stock valued at $33,429,384 in the last ninety days. Corporate insiders own 21.91% of the company's stock.

Wayfair Price Performance

NYSE W traded down $0.14 during trading hours on Friday, hitting $56.43. The company's stock had a trading volume of 2,761,867 shares, compared to its average volume of 4,864,001. The company has a market cap of $7.24 billion, a P/E ratio of -19.80 and a beta of 2.97. The company's 50 day simple moving average is $46.94 and its two-hundred day simple moving average is $40.89. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $59.51.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.24. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the previous year, the business posted ($0.32) earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Wayfair Company Profile

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.