Strategic Global Advisors LLC Decreases Stake in Wix.com Ltd. $WIX

Strategic Global Advisors LLC reduced its holdings in Wix.com Ltd. (NASDAQ:WIX) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,684 shares of the information services provider’s stock after selling 19,629 shares during the period. Wix.com makes up 1.4% of Strategic Global Advisors LLC’s holdings, making the stock its 23rd biggest position. Strategic Global Advisors LLC owned 0.15% of Wix.com worth $8,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WIX. Ameriprise Financial Inc. lifted its stake in shares of Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after buying an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Wix.com by 90.4% in the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after buying an additional 1,609,989 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Wix.com during the fourth quarter worth about $150,622,000. Durable Capital Partners LP acquired a new stake in Wix.com during the third quarter worth about $183,286,000. Finally, Norges Bank acquired a new stake in Wix.com during the fourth quarter worth about $68,293,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WIX shares. UBS Group cut their price objective on shares of Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday. Citizens Jmp cut shares of Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. Citigroup cut their price objective on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Jefferies Financial Group cut their price objective on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Scotiabank restated an “outperform” rating on shares of Wix.com in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $97.95.

Wix.com Price Performance

Shares of WIX opened at $45.91 on Monday. Wix.com Ltd. has a 1-year low of $42.66 and a 1-year high of $190.93. The stock has a market cap of $2.68 billion, a PE ratio of -58.86 and a beta of 0.92. The firm has a 50-day simple moving average of $64.81 and a two-hundred day simple moving average of $80.50.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The company had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. During the same quarter in the prior year, the business earned $1.69 earnings per share. Wix.com’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side 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.