Treasurer of the State of North Carolina Acquires 820 Shares of Wayfair Inc. (NYSE:W)

Treasurer of the State of North Carolina raised its holdings in shares of Wayfair Inc. (NYSE:W – Get Rating) by 2.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 34,236 shares of the company’s stock after purchasing an additional 820 shares during the period. Treasurer of the State of North Carolina’s holdings in Wayfair were worth $1,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in W. Stockbridge Partners LLC increased its position in shares of Wayfair by 49.6% during the first quarter. Stockbridge Partners LLC now owns 1,171,862 shares of the company’s stock valued at $129,819,000 after acquiring an additional 388,622 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $37,565,000. Ruane Cunniff & Goldfarb L.P. increased its position in shares of Wayfair by 9.1% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock valued at $381,085,000 after acquiring an additional 285,729 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Wayfair by 70.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,861 shares of the company’s stock worth $16,043,000 after purchasing an additional 203,383 shares during the last quarter. Finally, Wishbone Management LP boosted its holdings in Wayfair by 36.5% in the first quarter. Wishbone Management LP now owns 730,461 shares of the company’s stock worth $80,920,000 after purchasing an additional 195,461 shares during the last quarter. Institutional investors own 90.61% of the company’s stock.

Wayfair Stock Down 8.5 %

Shares of Wayfair stock opened at $35.30 on Friday. The company has a fifty day moving average of $34.81 and a 200 day moving average of $39.50. Wayfair Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $76.35.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on W. Wedbush dropped their target price on shares of Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Credit Suisse Group dropped their target price on shares of Wayfair from $124.00 to $108.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. DA Davidson raised their target price on shares of Wayfair from $49.00 to $57.00 in a report on Friday, May 5th. Gordon Haskett dropped their target price on shares of Wayfair from $62.00 to $40.00 in a report on Thursday, February 23rd. Finally, Oppenheimer dropped their target price on shares of Wayfair from $110.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, January 23rd. Four investment 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.com, the stock currently has an average rating of “Hold” and an average target price of $48.43.

Insiders Place Their Bets

In other Wayfair news, CTO Fiona Tan sold 3,221 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $38.62, for a total value of $124,395.02. Following the sale, the chief technology officer now owns 48,418 shares in the company, valued at approximately $1,869,903.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Thomas Netzer sold 2,913 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $30.96, for a total transaction of $90,186.48. Following the sale, the chief operating officer now directly owns 96,919 shares in the company, valued at approximately $3,000,612.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Fiona Tan sold 3,221 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $38.62, for a total transaction of $124,395.02. Following the sale, the chief technology officer now owns 48,418 shares in the company, valued at $1,869,903.16. The disclosure for this sale can be found here. Insiders have sold a total of 38,677 shares of company stock worth $1,385,880 in the last 90 days. 26.81% of the stock is currently owned by corporate insiders.

About Wayfair

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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.