Teachers Retirement System of The State of Kentucky Has $12.42 Million Stock Holdings in Wayfair Inc. $W

Key Points

• Teachers Retirement System of The State of Kentucky boosted its Wayfair stake by 28.3% in Q1, adding 36,389 shares to bring its total to 165,160 shares worth about $12.42 million.
• Wayfair reported Q1 earnings of $0.26 per share, matching analyst expectations, while revenue rose 7.4% year over year to $2.93 billion and topped estimates.
• Analysts remain mostly positive on the stock, with Wayfair carrying a Moderate Buy consensus and an average price target of $99.68, even as some firms trimmed their targets.

Teachers Retirement System of The State of Kentucky increased its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,160 shares of the company's stock after buying an additional 36,389 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.13% of Wayfair worth $12,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. bought a new position in shares of Wayfair in the fourth quarter worth about $30,000. V Square Quantitative Management LLC bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $33,000. Piper Sandler & CO. bought a new stake in shares of Wayfair during the fourth quarter valued at approximately $34,000. Havemeyer Place LP acquired a new stake in shares of Wayfair in the fourth quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company's stock valued at $42,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 89.67% of the company's stock.

Wayfair Price Performance

W opened at $86.33 on Tuesday. The company has a market cap of $11.40 billion, a price-to-earnings ratio of -36.90, a price-to-earnings-growth ratio of 4.69 and a beta of 2.96. The firm has a 50 day simple moving average of $76.82 and a 200 day simple moving average of $83.86. Wayfair Inc. has a fifty-two week low of $53.13 and a fifty-two week high of $119.98.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Wayfair's revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that Wayfair Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

W has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of Wayfair from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Citigroup decreased their price objective on Wayfair from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $79.00 target price on Wayfair in a research note on Friday, May 1st. Benchmark initiated coverage on Wayfair in a research report on Tuesday, July 7th. They set a "hold" rating for the company. Finally, Morgan Stanley set a $110.00 price target on Wayfair in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wayfair presently has an average rating of "Moderate Buy" and an average target price of $99.68.

Insider Buying and Selling at Wayfair

In other news, CEO Niraj Shah sold 6,137 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total value of $482,490.94. Following the transaction, the chief executive officer directly owned 429,137 shares in the company, valued at $33,738,750.94. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 5,925 shares of Wayfair stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $96.29, for a total value of $570,518.25. Following the sale, the insider directly owned 117,344 shares of the company's stock, valued at approximately $11,299,053.76. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders sold 245,925 shares of company stock worth $19,183,749. Insiders own 18.44% of the company's stock.

Wayfair Profile

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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