New York State Common Retirement Fund Cuts Position in Wayfair Inc. (NYSE:W)

New York State Common Retirement Fund trimmed its position in shares of Wayfair Inc. (NYSE:W - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,726 shares of the company's stock after selling 28,261 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Wayfair worth $5,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in W. Commonwealth Equity Services LLC grew its position in shares of Wayfair by 5.5% in the third quarter. Commonwealth Equity Services LLC now owns 10,274 shares of the company's stock valued at $622,000 after purchasing an additional 537 shares during the last quarter. Raymond James & Associates raised its stake in Wayfair by 9.3% during the third quarter. Raymond James & Associates now owns 5,730 shares of the company's stock worth $347,000 after purchasing an additional 486 shares during the period. Bank of New York Mellon Corp raised its stake in Wayfair by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 273,523 shares of the company's stock worth $16,567,000 after purchasing an additional 7,719 shares during the period. BluePath Capital Management LLC purchased a new position in Wayfair during the third quarter worth approximately $34,000. Finally, ING Groep NV purchased a new position in Wayfair during the third quarter worth approximately $4,016,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 3,492 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the sale, the insider now owns 32,118 shares of the company's stock, valued at approximately $1,616,820.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas Netzer sold 20,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the transaction, the chief operating officer now owns 116,622 shares of the company's stock, valued at approximately $6,964,665.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 3,492 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the transaction, the insider now directly owns 32,118 shares in the company, valued at approximately $1,616,820.12. The disclosure for this sale can be found here. Insiders sold 90,156 shares of company stock worth $5,465,688 in the last quarter. 26.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

W has been the subject of several recent research reports. Loop Capital increased their price objective on shares of Wayfair from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, April 2nd. Mizuho initiated coverage on shares of Wayfair in a report on Tuesday, March 19th. They set a "buy" rating and a $72.00 price target for the company. StockNews.com lowered shares of Wayfair from a "hold" rating to a "sell" rating in a report on Friday. Wedbush reaffirmed an "outperform" rating and set a $70.00 price target on shares of Wayfair in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on shares of Wayfair from $62.00 to $61.00 and set a "sector perform" rating for the company in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.45.

Wayfair Stock Performance

Shares of W stock traded up $4.95 during mid-day trading on Friday, reaching $63.59. The company's stock had a trading volume of 8,825,370 shares, compared to its average volume of 4,777,874. Wayfair Inc. has a 1-year low of $33.85 and a 1-year high of $90.71. The company has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32. The firm's 50-day moving average is $59.92 and its two-hundred day moving average is $55.29.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Sell-side analysts anticipate that Wayfair Inc. will post -3.37 EPS for the current 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.