Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “

W has been the subject of a number of other research reports. Longbow Research assumed coverage on shares of Wayfair in a report on Thursday, June 16th. They issued a “neutral” rating for the company. Oppenheimer Holdings Inc. reiterated a “sector perform” rating on shares of Wayfair in a report on Sunday, August 14th. Vetr downgraded shares of Wayfair from a “strong-buy” rating to a “buy” rating and set a $46.67 price objective for the company. in a report on Wednesday, June 22nd. Cowen and Company reiterated a “buy” rating and issued a $61.00 price objective on shares of Wayfair in a report on Tuesday, June 21st. Finally, Wedbush cut their price objective on shares of Wayfair from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Wayfair presently has a consensus rating of “Hold” and an average target price of $51.49.

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Shares of Wayfair (NYSE:W) traded up 2.00% during mid-day trading on Wednesday, hitting $42.90. The company had a trading volume of 109,470 shares. The firm’s market capitalization is $3.65 billion. The firm has a 50-day moving average price of $40.27 and a 200 day moving average price of $40.38. Wayfair has a 52-week low of $28.85 and a 52-week high of $50.00.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.02. The business earned $755.70 million during the quarter, compared to analyst estimates of $782.43 million. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The firm’s revenue was up 60.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) EPS. Analysts expect that Wayfair will post ($1.67) earnings per share for the current year.

In other news, major shareholder Steven Conine sold 12,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $40.16, for a total value of $481,920.00. Following the sale, the insider now directly owns 7,592 shares in the company, valued at approximately $304,894.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $38.10, for a total transaction of $11,430,000.00. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Pacad Investment Ltd. purchased a new stake in shares of Wayfair during the first quarter worth $1,035,000. TIAA CREF Investment Management LLC raised its stake in shares of Wayfair by 27.0% in the first quarter. TIAA CREF Investment Management LLC now owns 144,046 shares of the company’s stock valued at $6,226,000 after buying an additional 30,651 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Wayfair by 2.3% in the first quarter. Teachers Advisors Inc. now owns 30,241 shares of the company’s stock valued at $1,307,000 after buying an additional 691 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Wayfair by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 555,160 shares of the company’s stock valued at $23,994,000 after buying an additional 25,347 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Wayfair during the first quarter valued at approximately $291,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.

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