Teachers Retirement System of The State of Kentucky Lowers Position in Wayfair Inc. (NYSE:W)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Wayfair Inc. (NYSE:W - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,661 shares of the company's stock after selling 7,154 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.13% of Wayfair worth $5,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of W. Capital World Investors lifted its stake in Wayfair by 6.2% during the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Vanguard Group Inc. raised its position in Wayfair by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock valued at $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Renaissance Technologies LLC raised its position in Wayfair by 17.9% in the 4th quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock valued at $169,952,000 after purchasing an additional 581,000 shares in the last quarter. Southpoint Capital Advisors LP raised its position in Wayfair by 100.0% in the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after purchasing an additional 1,400,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Wayfair by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock valued at $68,584,000 after purchasing an additional 22,078 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 13,857 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total transaction of $782,227.65. Following the transaction, the insider owned 91,263 shares in the company, valued at $5,151,796.35. The trade was a 13.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 180,943 shares of the business's stock in a transaction dated 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 transaction, the insider owned 236,167 shares in the company, valued at approximately $12,420,022.53. This represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 680,731 shares of company stock worth $33,429,384 over the last quarter. 21.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

W has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Wayfair from $50.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, June 24th. Bank of America increased their price objective on Wayfair from $36.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Mizuho dropped their price objective on Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. BMO Capital Markets set a $38.00 price target on Wayfair in a research note on Friday, May 2nd. Finally, Zelman & Associates raised their price target on Wayfair from $55.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.72.

Wayfair Stock Down 0.3%

Shares of NYSE:W opened at $56.30 on Tuesday. The company has a market cap of $7.22 billion, a P/E ratio of -19.75 and a beta of 2.97. Wayfair Inc. has a 52 week low of $20.41 and a 52 week high of $59.51. The business has a fifty day simple moving average of $47.75 and a 200-day simple moving average of $40.99.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.