Hsbc Holdings PLC Has $8.75 Million Stock Position in Wayfair Inc. $W

Hsbc Holdings PLC lessened its position in shares of Wayfair Inc. (NYSE:W) by 9.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 116,960 shares of the company’s stock after selling 12,747 shares during the quarter. Hsbc Holdings PLC’s holdings in Wayfair were worth $8,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of W. Capital World Investors boosted its stake in Wayfair by 0.6% during the fourth quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after buying an additional 82,584 shares in the last quarter. Vanguard Group Inc. increased its stake in Wayfair by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after acquiring an additional 72,707 shares during the period. Renaissance Technologies LLC increased its stake in Wayfair by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after acquiring an additional 180,558 shares during the period. Janus Henderson Group PLC raised its position in Wayfair by 4.9% in the fourth quarter. Janus Henderson Group PLC now owns 3,570,475 shares of the company’s stock worth $358,514,000 after purchasing an additional 166,855 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after purchasing an additional 8,598 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 5,925 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the transaction, the insider directly owned 117,344 shares in the company, valued at approximately $11,299,053.76. This represents a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Niraj Shah sold 6,137 shares of Wayfair stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the sale, the chief executive officer owned 429,137 shares of the company’s stock, valued at approximately $33,738,750.94. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 19,201 shares of company stock valued at $1,613,778. 18.44% of the stock is currently owned by insiders.

Wayfair Stock Performance

NYSE:W opened at $84.32 on Thursday. The company has a market cap of $11.13 billion, a price-to-earnings ratio of -36.03, a P/E/G ratio of 4.70 and a beta of 2.96. The stock’s fifty day moving average price is $80.32 and its two-hundred day moving average price is $83.25. Wayfair Inc. has a 52-week low of $55.60 and a 52-week high of $119.98.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that Wayfair Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on W. Wedbush began coverage on Wayfair in a report on Thursday, July 16th. They set a “neutral” rating and a $104.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Wayfair in a report on Wednesday, May 20th. UBS Group reduced their price target on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. The Goldman Sachs Group set a $79.00 price objective on shares of Wayfair in a report on Friday, May 1st. Finally, Royal Bank Of Canada cut their target price on shares of Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.36.

Wayfair Profile

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.