Vestcor Inc Has $2.16 Million Stake in Wayfair Inc. (NYSE:W)

Vestcor Inc decreased its position in shares of Wayfair Inc. (NYSE:W) by 56.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,400 shares of the company’s stock after selling 49,200 shares during the period. Vestcor Inc’s holdings in Wayfair were worth $2,157,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creative Planning increased its holdings in shares of Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Wayfair in the third quarter valued at approximately $29,000. Optimist Retirement Group LLC increased its holdings in shares of Wayfair by 14.9% in the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Wayfair by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock valued at $381,000 after purchasing an additional 788 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares of the company’s stock, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,868 shares of company stock valued at $4,866,748 in the last three months. 23.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

W has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Wedbush lowered their target price on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 4th. StockNews.com lowered shares of Wayfair from a “hold” rating to a “sell” rating in a report on Monday. Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

Shares of W stock opened at $54.71 on Wednesday. The firm’s 50-day moving average is $46.94 and its 200-day moving average is $49.05. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of -12.18 and a beta of 3.44. Wayfair Inc. has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) earnings per share. Sell-side analysts predict that Wayfair Inc. will post -2.91 EPS for the current fiscal 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.