Wayfair Inc. (NYSE:W) shares 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. The stock had previously closed at $40.20.

Several brokerages recently issued reports on W. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Wayfair in a research note on Tuesday, May 3rd. William Blair assumed coverage on shares of Wayfair in a report on Friday, June 10th. They set a “market perform” rating on the stock. Oppenheimer Holdings Inc. assumed coverage on shares of Wayfair in a report on Tuesday, May 10th. They set a “hold” rating on the stock. KeyCorp restated a “hold” rating on shares of Wayfair in a report on Tuesday, May 10th. Finally, Vetr downgraded shares of Wayfair from a “strong-buy” rating to a “buy” rating and set a $48.00 price objective on the stock. in a report on Wednesday, June 8th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $52.67.

The company’s market capitalization is $3.38 billion. The stock has a 50 day moving average price of $39.88 and a 200-day moving average price of $40.52.

Wayfair (NYSE:W) last announced its 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 firm had revenue of $747.30 million for the quarter, compared to analysts’ expectations of $693.95 million. The company’s quarterly revenue was up 76.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS. Analysts forecast that Wayfair Inc. will post ($1.12) EPS for the current fiscal year.

In related news, major shareholder Steven Conine sold 4,405 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $40.09, for a total value of $176,596.45. Following the transaction, the insider now owns 4,405 shares in the company, valued at approximately $176,596.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael D. Fleisher sold 7,500 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $39.74, for a total transaction of $298,050.00. Following the completion of the transaction, the chief financial officer now owns 29,693 shares in the company, valued at approximately $1,179,999.82. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D boosted its position in shares of 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 last quarter. Marshall Wace LLP purchased a new position in shares of Wayfair during the fourth quarter worth about $5,425,000. Russell Frank Co boosted its position in shares of 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 last quarter. First Trust Advisors LP purchased a new position in shares of Wayfair during the fourth quarter worth about $2,895,000. Finally, California State Teachers Retirement System boosted its position in shares of 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 last quarter.

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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