Readystate Asset Management LP Purchases New Stake in Wix.com Ltd. $WIX

Readystate Asset Management LP purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,690 shares of the information services provider’s stock, valued at approximately $485,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WIX. Senvest Management LLC lifted its stake in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after buying an additional 746,200 shares during the last quarter. Hsbc Holdings PLC grew its stake in Wix.com by 11,894.0% in the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after buying an additional 3,500,047 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 valued at $602,270,000 after acquiring an additional 1,609,989 shares during the period. Ameriprise Financial Inc. raised its holdings in Wix.com by 879.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider’s stock valued at $321,926,000 after acquiring an additional 1,824,070 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Wix.com by 57.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after acquiring an additional 578,729 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CMO Omer Shai acquired 490 shares of the stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the purchase, the chief marketing officer directly owned 515,879 shares in the company, valued at approximately $30,895,993.31. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shelly B. Meyer sold 479 shares of Wix.com stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total value of $45,505.00. Following the completion of the transaction, the insider directly owned 183,010 shares of the company’s stock, valued at $17,385,950. This represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 2,622 shares of company stock worth $157,032. 6.20% of the stock is currently owned by insiders.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $76.21 on Tuesday. The company’s 50 day moving average price is $64.44 and its two-hundred day moving average price is $66.88. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $190.93. The firm has a market cap of $4.44 billion, a PE ratio of -21.53, a PEG ratio of 36.22 and a beta of 1.02.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.26. The company had revenue of $563.06 million during the quarter, compared to the consensus estimate of $552.56 million. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. On average, research analysts expect that Wix.com Ltd. will post 0.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wedbush boosted their price objective on Wix.com from $55.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Royal Bank Of Canada increased their target price on Wix.com from $45.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Scotiabank reissued an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Wells Fargo & Company boosted their price target on Wix.com from $46.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Wix.com in a report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.57.

About Wix.com

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.