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

Key Points

• HSBC Holdings PLC increased its stake in Wayfair by 215.3% in the fourth quarter, buying an additional 88,567 shares and bringing its total holding to 129,707 shares worth about $13.0 million.
• Wall Street sentiment remains mostly positive on Wayfair, with the stock holding a Moderate Buy consensus and an average price target of $99.68, though several firms recently trimmed their targets.
• Wayfair reported quarterly revenue of $2.93 billion, topping estimates and rising 7.4% year over year, while earnings per share matched expectations at $0.26.

Hsbc Holdings PLC boosted its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 215.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 129,707 shares of the company's stock after buying an additional 88,567 shares during the period. Hsbc Holdings PLC owned approximately 0.10% of Wayfair worth $13,038,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. acquired a new stake in shares of Wayfair during the fourth quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in Wayfair in the 4th quarter worth $33,000. Havemeyer Place LP acquired a new position in Wayfair in the 4th quarter worth $39,000. Kestra Advisory Services LLC bought a new position in Wayfair during the 4th quarter worth about $44,000. Finally, True Wealth Design LLC increased its holdings in Wayfair by 37.7% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the company's stock worth $45,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 89.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group set a $79.00 price target on Wayfair in a report on Friday, May 1st. TD Cowen decreased their price objective on Wayfair from $88.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, April 30th. UBS Group dropped their target price on Wayfair from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Canaccord Genuity Group cut their target price on Wayfair from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Wayfair from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned 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 company has an average rating of "Moderate Buy" and a consensus target price of $99.68.

Wayfair Price Performance

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 one year low of $49.25 and a one year high of $119.98. The stock has a market capitalization of $12.35 billion, a PE ratio of -39.98, a price-to-earnings-growth ratio of 4.88 and a beta of 3.02.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, analysts anticipate that Wayfair Inc. will post 0.63 earnings per share for the current fiscal year.

Key Stories Impacting Wayfair

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

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,790 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $72.19, for a total value of $345,790.10. Following the completion of the transaction, the insider directly owned 111,158 shares in the company, valued at $8,024,496.02. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total value of $8,823,243.87. Following the transaction, the chief executive officer directly owned 435,274 shares in the company, valued at $33,729,382.26. This trade represents a 20.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 244,790 shares of company stock valued at $18,959,021. Insiders own 18.44% of the company's stock.

Wayfair Company 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.

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