Public Sector Pension Investment Board Acquires Shares of 90,400 Wayfair Inc. $W

Public Sector Pension Investment Board acquired a new position in shares of Wayfair Inc. (NYSE:W) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 90,400 shares of the company’s stock, valued at approximately $8,075,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in W. Cornerstone Planning Group LLC lifted its holdings in shares of Wayfair by 28,200.0% in the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 282 shares during the period. True Wealth Design LLC lifted its stake in Wayfair by 250.5% during the third quarter. True Wealth Design LLC now owns 326 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Wayfair by 156.3% during the third quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Wayfair by 393.4% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Wayfair in the third quarter valued at $71,000. 89.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Steven Conine sold 150,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $108.87, for a total value of $16,330,500.00. Following the sale, the insider owned 289,073 shares of the company’s stock, valued at approximately $31,471,377.51. This represents a 34.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Niraj Shah sold 150,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the sale, the chief executive officer owned 289,137 shares of the company’s stock, valued at $31,478,345.19. This trade represents a 34.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 950,494 shares of company stock valued at $100,127,813. 21.91% of the stock is currently owned by corporate insiders.

Wayfair Stock Performance

NYSE W opened at $85.11 on Wednesday. The stock has a 50-day simple moving average of $102.41 and a 200 day simple moving average of $93.57. Wayfair Inc. has a twelve month low of $20.41 and a twelve month high of $119.98. The stock has a market capitalization of $11.09 billion, a PE ratio of -33.25, a P/E/G ratio of 7.87 and a beta of 3.36.

Analyst Upgrades and Downgrades

W has been the subject of several research reports. Canaccord Genuity Group raised their price objective on Wayfair from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. UBS Group restated a “buy” rating on shares of Wayfair in a report on Tuesday. Wall Street Zen upgraded Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Barclays raised their price objective on Wayfair from $70.00 to $104.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on Wayfair from $82.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $107.21.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.