California Public Employees Retirement System Cuts Stock Position in Wayfair Inc. (NYSE:W)

California Public Employees Retirement System lowered its holdings in Wayfair Inc. (NYSE:W – Get Rating) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,427 shares of the company’s stock after selling 23,184 shares during the period. California Public Employees Retirement System’s holdings in Wayfair were worth $4,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of W. Parallel Advisors LLC raised its stake in shares of Wayfair by 132.4% in the fourth quarter. Parallel Advisors LLC now owns 853 shares of the company’s stock valued at $28,000 after buying an additional 486 shares during the period. Captrust Financial Advisors raised its stake in shares of Wayfair by 24.1% in the second quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 188 shares during the period. Yarbrough Capital LLC bought a new stake in shares of Wayfair in the fourth quarter valued at $43,000. Canada Pension Plan Investment Board bought a new stake in shares of Wayfair during the 3rd quarter valued at $59,000. Finally, CWM LLC raised its stake in shares of Wayfair by 102.1% during the 4th quarter. CWM LLC now owns 1,991 shares of the company’s stock valued at $65,000 after purchasing an additional 1,006 shares during the period. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Fiona Tan sold 7,375 shares of the stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $35.44, for a total value of $261,370.00. Following the completion of the transaction, the chief technology officer now owns 55,741 shares of the company’s stock, valued at approximately $1,975,461.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kate Gulliver sold 1,442 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $38.61, for a total transaction of $55,675.62. Following the completion of the transaction, the chief financial officer now owns 24,269 shares of the company’s stock, valued at approximately $937,026.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 7,375 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $35.44, for a total value of $261,370.00. Following the transaction, the chief technology officer now directly owns 55,741 shares of the company’s stock, valued at approximately $1,975,461.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,677 shares of company stock worth $1,385,880. 26.81% of the stock is currently owned by company insiders.

Wayfair Stock Performance

Shares of W stock opened at $38.60 on Friday. Wayfair Inc. has a 1-year low of $28.11 and a 1-year high of $76.35. The business has a 50-day moving average of $34.76 and a 200 day moving average of $39.52.

Wayfair (NYSE:W – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported ($2.50) earnings per share for the quarter, topping the consensus estimate of ($3.14) by $0.64. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.74 billion. As a group, equities analysts anticipate that Wayfair Inc. will post -9.18 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on W. DA Davidson boosted their price objective on Wayfair from $49.00 to $57.00 in a research note on Friday, May 5th. Robert W. Baird decreased their price objective on Wayfair from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, February 24th. Credit Suisse Group decreased their price objective on Wayfair from $124.00 to $108.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Gordon Haskett decreased their price objective on Wayfair from $62.00 to $40.00 in a research note on Thursday, February 23rd. Finally, Wedbush decreased their price objective on Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.43.

Wayfair Company Profile

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Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.