Hsbc Holdings PLC Purchases 17,608 Shares of Wayfair Inc. $W

Key Points

• Hsbc Holdings PLC increased its stake in Wayfair Inc. by 235.2% during the first quarter, acquiring an additional 17,608 shares, bringing their total to 25,095 shares valued at $804,000.
• Wayfair's CEO, Niraj Shah, sold 199,422 shares worth approximately $15.6 million, resulting in a 26.82% decrease in his ownership of the company.
• Wayfair's latest earnings report showed an EPS of $0.87, exceeding estimates, with revenues of $3.27 billion, up 5.0% year-over-year.

Hsbc Holdings PLC raised its stake in Wayfair Inc. (NYSE:W - Free Report) by 235.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,095 shares of the company's stock after purchasing an additional 17,608 shares during the period. Hsbc Holdings PLC's holdings in Wayfair were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Wayfair by 15,266.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,610 shares of the company's stock worth $148,000 after purchasing an additional 4,580 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Wayfair during the first quarter worth about $215,000. Corient IA LLC purchased a new position in Wayfair during the first quarter worth about $240,000. Finally, Optas LLC boosted its holdings in Wayfair by 103.3% during the first quarter. Optas LLC now owns 9,274 shares of the company's stock worth $297,000 after purchasing an additional 4,712 shares during the last quarter. 89.67% of the stock is owned by institutional investors.

Wayfair Price Performance

W traded up $1.56 during trading on Wednesday, hitting $79.21. 3,566,800 shares of the stock traded hands, compared to its average volume of 5,099,767. The firm has a market capitalization of $10.27 billion, a P/E ratio of -33.00 and a beta of 2.95. The firm has a 50-day moving average of $65.85 and a 200 day moving average of $46.65. Wayfair Inc. has a 12-month low of $20.41 and a 12-month high of $81.94.

Wayfair (NYSE:W - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the company earned $0.47 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on W shares. Argus upgraded shares of Wayfair from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Monday, May 12th. Evercore ISI boosted their price target on shares of Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. The Goldman Sachs Group lifted their price objective on shares of Wayfair from $31.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Loop Capital reaffirmed a "sell" rating and issued a $35.00 price objective on shares of Wayfair in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company set a $84.00 price objective on shares of Wayfair and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

Insider Buying and Selling at Wayfair

In other Wayfair news, CEO Niraj Shah sold 199,422 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $78.40, for a total value of $15,634,684.80. Following the completion of the transaction, the chief executive officer directly owned 544,137 shares in the company, valued at approximately $42,660,340.80. This represents a 26.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Conine sold 199,473 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $78.40, for a total transaction of $15,638,683.20. Following the completion of the transaction, the insider owned 544,073 shares of the company's stock, valued at $42,655,323.20. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,240,204 shares of company stock valued at $81,706,986 over the last 90 days. Company insiders own 21.91% of the company's stock.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.