Hsbc Holdings PLC Acquires 2,672 Shares of Wayfair Inc. (NYSE:W)

Hsbc Holdings PLC increased its holdings in shares of Wayfair Inc. (NYSE:W – Get Rating) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,144 shares of the company’s stock after purchasing an additional 2,672 shares during the period. Hsbc Holdings PLC’s holdings in Wayfair were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Captrust Financial Advisors increased its holdings in Wayfair by 102.6% in the 1st quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock worth $86,000 after purchasing an additional 395 shares in the last quarter. Covestor Ltd increased its stake in shares of Wayfair by 2,934.3% in the first quarter. Covestor Ltd now owns 1,062 shares of the company’s stock valued at $118,000 after buying an additional 1,027 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of Wayfair in the second quarter valued at about $65,000. Skylands Capital LLC acquired a new stake in shares of Wayfair in the third quarter valued at about $49,000. Finally, Centaurus Financial Inc. increased its stake in shares of Wayfair by 73.3% in the first quarter. Centaurus Financial Inc. now owns 1,587 shares of the company’s stock valued at $176,000 after buying an additional 671 shares during the period. 90.61% of the stock is currently owned by institutional investors.

Wayfair Stock Down 1.2 %

W stock opened at $38.85 on Friday. Wayfair Inc. has a twelve month low of $28.11 and a twelve month high of $137.00. The stock’s 50 day moving average is $47.02 and its 200-day moving average is $42.91. The firm has a market capitalization of $4.16 billion, a PE ratio of -3.10 and a beta of 3.10.

Wayfair (NYSE:W – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($3.19) EPS for the quarter, missing analysts’ consensus estimates of ($3.04) by ($0.15). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. On average, equities research analysts anticipate that Wayfair Inc. will post -9.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anke Schaferkordt sold 624 shares of Wayfair stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $69.62, for a total transaction of $43,442.88. Following the sale, the director now directly owns 10,674 shares in the company, valued at $743,123.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Anke Schaferkordt sold 624 shares of Wayfair stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $69.62, for a total transaction of $43,442.88. Following the sale, the director now directly owns 10,674 shares in the company, valued at $743,123.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kate Gulliver sold 1,244 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $69.42, for a total value of $86,358.48. Following the completion of the sale, the chief financial officer now directly owns 22,787 shares of the company’s stock, valued at $1,581,873.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,202 shares of company stock worth $1,550,854. 26.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

W has been the subject of several recent research reports. JPMorgan Chase & Co. raised Wayfair from an “underweight” rating to an “overweight” rating and increased their price target for the company from $35.00 to $63.00 in a research note on Monday, January 23rd. KeyCorp began coverage on Wayfair in a research note on Friday, January 20th. They issued a “sector weight” rating for the company. Cowen decreased their target price on Wayfair from $60.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, February 24th. Truist Financial decreased their target price on Wayfair from $60.00 to $50.00 in a research note on Monday, November 7th. Finally, Morgan Stanley raised their target price on Wayfair from $35.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 16th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Hold” and an average price target of $53.24.

About Wayfair

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Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites.