Hsbc Holdings PLC Purchases 88,567 Shares of Wayfair Inc. $W

Hsbc Holdings PLC boosted its position in Wayfair Inc. (NYSE:W) by 215.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 129,707 shares of the company’s stock after purchasing an additional 88,567 shares during the period. Hsbc Holdings PLC’s holdings in Wayfair were worth $13,038,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of W. Kera Capital Partners Inc. bought a new position in Wayfair during the fourth quarter worth about $363,000. Compound Planning Inc. bought a new stake in Wayfair in the fourth quarter valued at approximately $223,000. Corient Private Wealth LLC lifted its position in shares of Wayfair by 609.6% in the fourth quarter. Corient Private Wealth LLC now owns 77,167 shares of the company’s stock valued at $7,748,000 after buying an additional 66,292 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Wayfair by 60.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,536 shares of the company’s stock valued at $2,664,000 after buying an additional 9,994 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in shares of Wayfair during the 4th quarter worth approximately $229,000. Institutional investors own 89.67% of the company’s stock.

Insider Buying and Selling

In other Wayfair news, Director Steven Conine sold 7,139 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.55, for a total transaction of $560,768.45. Following the transaction, the director owned 429,073 shares in the company, valued at $33,703,684.15. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of Wayfair stock in a transaction on Friday, April 24th. The shares were sold at an average price of $78.62, for a total value of $482,490.94. Following the completion of the transaction, the chief executive officer directly owned 429,137 shares of the company’s stock, valued at $33,738,750.94. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 244,790 shares of company stock valued at $18,959,021 over the last 90 days. 18.44% of the stock is owned by corporate insiders.

Wayfair News Roundup

Here are the key news stories impacting Wayfair this week:

• Positive Sentiment: Multiple articles spotlight Wayfair’s 4-day flash sale and deep discounts on bedding, furniture, decor, storage, and outdoor products, which may be boosting shopper interest and supporting revenue growth. Article Title
• Positive Sentiment: Coverage of Wayfair’s “Prime Day” style promotion and fast delivery timing suggests the company is competing effectively on price and convenience, which can help improve conversion rates. Article Title
• Positive Sentiment: Reports describing Wayfair’s stock rebound and a “major furniture shift” may be helping investor sentiment by suggesting improving demand trends in home goods. Article Title
• Neutral Sentiment: Consumer lifestyle pieces featuring discounted products such as lanterns, grills, and sleeper sofas add visibility to Wayfair’s marketplace, but they do not materially change the investment thesis on their own. Article Title

Wayfair Stock Up 0.8%

Shares of NYSE:W opened at $93.55 on Friday. The company’s 50 day moving average price is $73.10 and its two-hundred day moving average price is $84.41. Wayfair Inc. has a 12-month low of $49.25 and a 12-month high of $119.98. The firm has a market cap of $12.35 billion, a PE ratio of -39.98, a PEG ratio of 4.88 and a beta of 3.02.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect that Wayfair Inc. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

W has been the topic of a number of recent analyst reports. Citigroup decreased their target price on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Robert W. Baird set a $76.00 price target on Wayfair in a report on Monday, May 4th. Jefferies Financial Group reduced their price target on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Needham & Company LLC decreased their price objective on Wayfair from $125.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Canaccord Genuity Group lowered their price objective on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.68.

About Wayfair

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.