Utah Retirement Systems Acquires Shares of 7,017 Wayfair Inc. (W)
Utah Retirement Systems acquired a new stake in Wayfair Inc. (NYSE:W) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,017 shares of the company’s stock, valued at approximately $539,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in W. Spruce House Investment Management LLC bought a new position in Wayfair during the first quarter worth about $101,225,000. Columbia Wanger Asset Management LLC bought a new position in Wayfair during the first quarter worth about $42,729,000. Eventide Asset Management LLC grew its holdings in Wayfair by 99.7% during the first quarter. Eventide Asset Management LLC now owns 699,000 shares of the company’s stock worth $28,303,000 after purchasing an additional 349,000 shares during the period. Baillie Gifford & Co. grew its holdings in Wayfair by 18.6% during the first quarter. Baillie Gifford & Co. now owns 1,812,214 shares of the company’s stock worth $73,377,000 after purchasing an additional 284,599 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Wayfair by 18,904.8% during the second quarter. Russell Investments Group Ltd. now owns 274,239 shares of the company’s stock worth $21,089,000 after purchasing an additional 272,796 shares during the period.
Shares of Wayfair Inc. (W) opened at 80.10 on Friday. Wayfair Inc. has a one year low of $27.60 and a one year high of $82.75. The company’s market cap is $6.98 billion. The stock’s 50 day moving average price is $73.10 and its 200-day moving average price is $60.95.
Wayfair (NYSE:W) last released its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The company’s revenue was up 42.7% compared to the same quarter last year. On average, analysts expect that Wayfair Inc. will post ($1.45) EPS for the current year.
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A number of research firms recently commented on W. Piper Jaffray Companies set a $87.00 price target on Wayfair and gave the stock a “buy” rating in a report on Friday, July 28th. Buckingham Research reiterated a “buy” rating and set a $95.00 price target on shares of Wayfair in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $88.00 price target on Wayfair and gave the stock a “buy” rating in a report on Friday, August 4th. Gordon Haskett cut Wayfair from a “buy” rating to an “accumulate” rating and lifted their price target for the stock from $70.00 to $85.00 in a report on Tuesday, June 27th. Finally, Stifel Nicolaus upgraded Wayfair from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $78.00 in a report on Friday, August 25th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $72.84.
In other news, insider Steven Conine sold 55,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $76.63, for a total transaction of $4,214,650.00. Following the completion of the transaction, the insider now directly owns 55,000 shares of the company’s stock, valued at approximately $4,214,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Savarese sold 21,663 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.32, for a total transaction of $1,739,972.16. Following the transaction, the chief operating officer now directly owns 533,821 shares of the company’s stock, valued at $42,876,502.72. The disclosure for this sale can be found here. Insiders have sold a total of 903,962 shares of company stock valued at $66,612,893 over the last three months. Insiders own 56.93% of the company’s stock.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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