K2 Principal Fund L.P. Buys Shares of 11,000 Wix.com Ltd. $WIX

K2 Principal Fund L.P. bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 11,000 shares of the information services provider’s stock, valued at approximately $1,143,000.

Several other institutional investors also recently bought and sold shares of WIX. AQR Capital Management LLC grew its position in Wix.com by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 436 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Wix.com by 9.7% in the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after buying an additional 202 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after buying an additional 215 shares during the period. Cetera Investment Advisers boosted its stake in shares of Wix.com by 18.9% in the 2nd quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after buying an additional 295 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Wix.com by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after buying an additional 1,580 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the subject of several recent research reports. Piper Sandler initiated coverage on Wix.com in a research note on Thursday, March 12th. They issued a “neutral” rating and a $98.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Wix.com from $91.00 to $86.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. Royal Bank Of Canada decreased their price objective on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday. Finally, Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.95.

Wix.com Stock Up 4.2%

WIX stock opened at $45.91 on Friday. The business has a 50 day moving average price of $64.81 and a 200 day moving average price of $80.59. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -58.86 and a beta of 0.91. Wix.com Ltd. has a fifty-two week low of $42.66 and a fifty-two week high of $190.93.

Wix.com (NASDAQ:WIX) last posted its earnings results 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 business 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%.Wix.com’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. As a group, sell-side analysts anticipate that Wix.com Ltd. will post -0.27 EPS for the current 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.