Wix.com Ltd. $WIX Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 18.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 84,684 shares of the information services provider’s stock after selling 19,629 shares during the period. Wix.com makes up approximately 1.4% of Strategic Global Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Strategic Global Advisors LLC’s holdings in Wix.com were worth $8,798,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WIX. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Wix.com in the fourth quarter valued at approximately $4,087,000. Intech Investment Management LLC acquired a new position in shares of Wix.com in the third quarter valued at approximately $6,179,000. Dream Peak Capital Ltd acquired a new position in shares of Wix.com in the fourth quarter valued at approximately $1,500,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Wix.com by 70.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider’s stock valued at $54,089,000 after purchasing an additional 214,864 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd grew its holdings in shares of Wix.com by 43.1% in the third quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock valued at $19,269,000 after purchasing an additional 32,686 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WIX shares. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price objective on shares of Wix.com in a report on Wednesday, March 4th. Scotiabank restated an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Benchmark restated a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. Barclays dropped their price objective on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Finally, Piper Sandler started coverage on shares of Wix.com in a report on Thursday, March 12th. They issued a “neutral” rating and a $98.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.95.

Wix.com Price Performance

NASDAQ WIX opened at $45.91 on Monday. Wix.com Ltd. has a 52 week low of $42.66 and a 52 week high of $190.93. The stock has a market capitalization of $2.68 billion, a PE ratio of -58.86 and a beta of 0.92. The firm has a 50 day moving average of $64.81 and a two-hundred day moving average of $80.50.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, equities research analysts expect that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.