Wayfair Inc. (NYSE:W) fell 2.7% during mid-day trading on Thursday . The stock traded as low as $39.12 and last traded at $39.12, with a volume of 287,364 shares trading hands. The stock had previously closed at $40.20.

Several research firms recently issued reports on W. Robert W. Baird reiterated a “neutral” rating and issued a $50.00 price objective on shares of Wayfair in a report on Tuesday, May 10th. Longbow Research began coverage on Wayfair in a report on Thursday, June 16th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. began coverage on Wayfair in a report on Monday, April 25th. They issued a “neutral” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded Wayfair from a “hold” rating to a “sell” rating in a report on Thursday, June 2nd. Finally, Buckingham Research began coverage on Wayfair in a research note on Monday, April 11th. They set a “buy” rating and a $52.00 target price for the company. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.67.

The stock’s market capitalization is $3.34 billion. The firm’s 50 day moving average is $39.96 and its 200-day moving average is $40.56.

Wayfair (NYSE:W) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.03. The company earned $747.30 million during the quarter, compared to analyst estimates of $693.95 million. During the same period last year, the business earned ($0.23) EPS. The business’s quarterly revenue was up 76.1% on a year-over-year basis. On average, analysts anticipate that Wayfair Inc. will post ($1.12) earnings per share for the current fiscal year.

In other Wayfair news, CEO Niraj Shah sold 12,000 shares of Wayfair stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $40.38, for a total value of $484,560.00. Following the completion of the transaction, the chief executive officer now directly owns 12,000 shares in the company, valued at $484,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Harbourvest Partners 2007 Dire sold 40,200 shares of Wayfair stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $40.94, for a total value of $1,645,788.00. The disclosure for this sale can be found here.

Several large investors have added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D boosted its stake in Wayfair by 14.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 480,000 shares of the company’s stock worth $22,858,000 after buying an additional 60,000 shares during the period. Marshall Wace LLP acquired a new stake in Wayfair during the fourth quarter worth $5,425,000. Russell Frank Co boosted its stake in Wayfair by 72.5% in the fourth quarter. Russell Frank Co now owns 95,996 shares of the company’s stock worth $4,697,000 after buying an additional 40,358 shares during the period. First Trust Advisors LP acquired a new stake in Wayfair during the fourth quarter worth $2,895,000. Finally, California State Teachers Retirement System boosted its stake in Wayfair by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 37,171 shares of the company’s stock worth $1,770,000 after buying an additional 632 shares during the period.

Wayfair Inc (Wayfair) is an online destination for the home. Through its e-commerce business model, the Company offers browsing, merchandising, product discovery and prices for over seven million products from over 7,000 suppliers across five brands: Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane.

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