Canada Pension Plan Investment Board Purchases 15,900 Shares of Wayfair Inc. (NYSE:W)

Canada Pension Plan Investment Board grew its holdings in shares of Wayfair Inc. (NYSE:W) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,300 shares of the company’s stock after purchasing an additional 15,900 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Wayfair worth $5,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock worth $273,887,000 after buying an additional 740,641 shares during the period. Norges Bank purchased a new position in Wayfair during the fourth quarter valued at approximately $31,472,000. Arrowstreet Capital Limited Partnership purchased a new position in Wayfair during the fourth quarter valued at approximately $30,735,000. Renaissance Technologies LLC boosted its position in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock worth $169,952,000 after purchasing an additional 581,000 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock valued at $412,856,000 after purchasing an additional 327,603 shares during the period. Institutional investors own 89.67% of the company’s stock.

Wayfair Price Performance

Shares of NYSE W opened at $25.87 on Tuesday. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18. The firm has a 50-day simple moving average of $34.16 and a two-hundred day simple moving average of $42.21. The company has a market cap of $3.28 billion, a P/E ratio of -6.44 and a beta of 3.72.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, equities research analysts expect that Wayfair Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on W shares. Wedbush reaffirmed a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Jefferies Financial Group upgraded Wayfair from a “hold” rating to a “buy” rating and increased their target price for the stock from $45.00 to $47.00 in a research report on Friday, March 7th. Raymond James set a $60.00 price target on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Loop Capital dropped their price target on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Sixteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.92.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the sale, the chief financial officer now directly owns 144,474 shares of the company’s stock, valued at approximately $4,575,491.58. This trade represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,863 shares of company stock valued at $3,393,929. 21.91% of the stock is currently owned by company insiders.

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.