Nordea Investment Management AB Sells 7,537 Shares of Wix.com Ltd. $WIX

Nordea Investment Management AB trimmed its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 55.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,967 shares of the information services provider’s stock after selling 7,537 shares during the quarter. Nordea Investment Management AB’s holdings in Wix.com were worth $614,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WIX. Ameriprise Financial Inc. raised its holdings 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 valued at $823,813,000 after purchasing an additional 2,606,204 shares during the last quarter. Lone Pine Capital LLC purchased a new position in Wix.com during the second quarter worth about $342,485,000. Wellington Management Group LLP grew its position in Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after purchasing an additional 1,609,989 shares in the last quarter. Durable Capital Partners LP bought a new stake in Wix.com in the 3rd quarter worth about $183,286,000. Finally, Holocene Advisors LP purchased a new stake in Wix.com in the 3rd quarter valued at about $115,982,000. Institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on WIX shares. Piper Sandler initiated coverage on shares of Wix.com in a research report on Thursday, March 12th. They set a “neutral” rating and a $98.00 target price on the stock. Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Scotiabank decreased their price target on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 5th. Jefferies Financial Group dropped their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Benchmark cut their price objective on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.15.

Wix.com Stock Down 2.6%

WIX opened at $87.14 on Friday. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 107.58, a PEG ratio of 2.86 and a beta of 1.39. Wix.com Ltd. has a twelve month low of $60.22 and a twelve month high of $191.24. The company’s 50-day moving average price is $80.81 and its two-hundred day moving average price is $110.27.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.45. The company had revenue of $524.27 million during the quarter, compared to analyst estimates of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. Wix.com’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. As a group, sell-side analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wix.com 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.