State of New Jersey Common Pension Fund D Boosts Stake in Wayfair Inc. (NYSE:W)

State of New Jersey Common Pension Fund D lifted its stake in shares of Wayfair Inc. (NYSE:W) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,356 shares of the company’s stock after purchasing an additional 2,215 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wayfair were worth $3,045,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of W. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wayfair during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of Wayfair during the 4th quarter valued at $31,000. BluePath Capital Management LLC bought a new position in shares of Wayfair during the 3rd quarter valued at $34,000. DekaBank Deutsche Girozentrale bought a new position in Wayfair in the 3rd quarter worth $34,000. Finally, CWM LLC raised its holdings in Wayfair by 69.6% in the 3rd quarter. CWM LLC now owns 3,295 shares of the company’s stock worth $200,000 after acquiring an additional 1,352 shares during the period. Institutional investors own 89.67% of the company’s stock.

Wayfair Stock Performance

Wayfair stock opened at $52.01 on Friday. The business has a 50-day simple moving average of $59.59 and a two-hundred day simple moving average of $55.03. Wayfair Inc. has a 52-week low of $29.51 and a 52-week high of $90.71.

Wayfair (NYSE:W) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. On average, equities research analysts expect that Wayfair Inc. will post -3.37 EPS for the current year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total transaction of $250,794.88. Following the sale, the insider now owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Wayfair news, insider Jon Blotner sold 4,144 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the completion of the sale, the insider now directly owns 37,957 shares in the company, valued at $2,297,157.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Thomas Netzer sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $59.72, for a total value of $1,194,400.00. Following the completion of the transaction, the chief operating officer now owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,808 shares of company stock valued at $5,445,222. 26.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on W. Citigroup boosted their price objective on shares of Wayfair from $73.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Raymond James raised shares of Wayfair from a “market perform” rating to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Friday, February 16th. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Wayfair in a research note on Monday, April 22nd. BMO Capital Markets started coverage on shares of Wayfair in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $57.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Wayfair from $63.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.21.

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.