Illinois Municipal Retirement Fund Boosts Stock Position in Wayfair Inc. $W

Illinois Municipal Retirement Fund grew its position in Wayfair Inc. (NYSE:W) by 51.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,028 shares of the company’s stock after purchasing an additional 7,839 shares during the period. Illinois Municipal Retirement Fund’s holdings in Wayfair were worth $2,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. purchased a new stake in Wayfair in the third quarter valued at approximately $376,000. ING Groep NV acquired a new stake in Wayfair during the 3rd quarter valued at approximately $4,949,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Wayfair in the 3rd quarter valued at $1,107,000. Bryce Point Capital LLC purchased a new stake in shares of Wayfair in the 3rd quarter valued at $739,000. Finally, Savant Capital LLC increased its stake in shares of Wayfair by 82.8% in the third quarter. Savant Capital LLC now owns 22,091 shares of the company’s stock worth $1,973,000 after acquiring an additional 10,005 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insiders Place Their Bets

In other Wayfair news, insider Steven Conine sold 150,000 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the transaction, the insider directly owned 289,073 shares of the company’s stock, valued at $31,471,377.51. This trade represents a 34.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 150,000 shares of Wayfair stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $108.87, for a total transaction of $16,330,500.00. Following the completion of the sale, the chief executive officer owned 289,137 shares in the company, valued at approximately $31,478,345.19. This trade represents a 34.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 950,494 shares of company stock worth $100,127,813. Corporate insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on W shares. Raymond James Financial boosted their target price on shares of Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company boosted their price objective on Wayfair from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Morgan Stanley upped their target price on Wayfair from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Royal Bank Of Canada lifted their price target on Wayfair from $51.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Finally, Gordon Haskett raised Wayfair from an “accumulate” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $107.21.

Wayfair Trading Down 0.1%

Shares of W stock opened at $82.41 on Tuesday. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $119.98. The business’s 50 day moving average is $102.59 and its two-hundred day moving average is $93.43. The company has a market capitalization of $10.74 billion, a P/E ratio of -32.19, a P/E/G ratio of 7.87 and a beta of 3.36.

Wayfair Company 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.