Hsbc Holdings PLC Lowers Stock Holdings in Wayfair Inc. (NYSE:W)

Hsbc Holdings PLC decreased its stake in Wayfair Inc. (NYSE:W - Free Report) by 88.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,487 shares of the company's stock after selling 57,891 shares during the period. Hsbc Holdings PLC's holdings in Wayfair were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of Wayfair by 6.2% during the fourth quarter. Capital World Investors now owns 13,506,200 shares of the company's stock worth $598,596,000 after acquiring an additional 782,757 shares during the period. Vanguard Group Inc. grew its position in Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after buying an additional 327,603 shares during the period. Baillie Gifford & Co. grew its position in shares of Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock valued at $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company's stock valued at $169,952,000 after purchasing an additional 581,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Wayfair by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company's stock valued at $68,584,000 after purchasing an additional 22,078 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Trading Up 21.0%

W stock traded up $6.89 during trading on Monday, hitting $39.68. The company had a trading volume of 14,510,469 shares, compared to its average volume of 4,706,206. The business has a 50-day moving average of $30.64 and a 200-day moving average of $40.10. Wayfair Inc. has a one year low of $20.41 and a one year high of $76.18. The stock has a market cap of $5.04 billion, a PE ratio of -9.87 and a beta of 2.93.

Wayfair (NYSE:W - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.71 billion. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) earnings per share. Research analysts forecast that Wayfair Inc. will post -2.54 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target on the stock. in a research report on Monday, April 14th. Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the company an "overweight" rating in a research note on Friday, February 21st. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Wayfair in a report on Thursday, May 1st. Jefferies Financial Group upgraded shares of Wayfair from a "hold" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Finally, Truist Financial set a $40.00 target price on shares of Wayfair in a research report on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and a consensus price target of $46.46.

Insider Activity

In related news, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $611,104.32. Following the completion of the transaction, the chief financial officer now directly owns 144,474 shares of the company's stock, valued at approximately $4,575,491.58. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $46.33, for a total value of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares of the company's stock, valued at $25,901,852.09. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,915 shares of company stock valued at $3,389,028. 21.91% of the stock is currently owned by insiders.

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.