Shares of Wayfair Inc. (NYSE:W) shot up 6.9% during trading on Thursday . The stock traded as high as $43.58 and last traded at $43.03, with a volume of 956,369 shares trading hands. The stock had previously closed at $40.25.

Several research firms have recently weighed in on W. Vetr lowered Wayfair from a “buy” rating to a “hold” rating and set a $43.83 price objective on the stock. in a research note on Monday, April 4th. Sterne Agee CRT began coverage on Wayfair in a research note on Wednesday, April 6th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Wayfair from a “hold” rating to a “sell” rating in a research note on Thursday, June 2nd. JPMorgan Chase & Co. began coverage on Wayfair in a research note on Monday, April 25th. They issued a “neutral” rating and a $45.00 price objective on the stock. Finally, Buckingham Research began coverage on Wayfair in a research note on Monday, April 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $52.67.

The stock’s 50 day moving average is $39.74 and its 200-day moving average is $40.45. The stock’s market cap is $3.62 billion.

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

In other news, insider Harbourvest Partners 2007 Dire sold 115,000 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $40.81, for a total transaction of $4,693,150.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Steven Conine sold 12,000 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $40.04, for a total value of $480,480.00. Following the transaction, the insider now directly owns 46,000 shares in the company, valued at approximately $1,841,840. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. California State Teachers Retirement System raised 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 in the last quarter. Russell Frank Co raised 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 in the last quarter. State of New Jersey Common Pension Fund D raised 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 in the last quarter. First Trust Advisors LP bought a new position in shares of Wayfair during the fourth quarter worth approximately $2,895,000. Finally, Marshall Wace LLP bought a new position in shares of Wayfair during the fourth quarter worth approximately $5,425,000.

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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