Swedbank AB Has $584,000 Stock Holdings in Wix.com Ltd. $WIX

Swedbank AB lessened its position in Wix.com Ltd. (NASDAQ:WIX) by 93.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,624 shares of the information services provider’s stock after selling 74,600 shares during the period. Swedbank AB’s holdings in Wix.com were worth $584,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Wix.com by 128.3% in the 3rd 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 in the last quarter. Wellington Management Group LLP raised its holdings 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 valued at $602,270,000 after buying an additional 1,609,989 shares during the last quarter. Dorsal Capital Management LP raised its holdings in shares of Wix.com by 50.0% in the third quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock valued at $279,767,000 after buying an additional 525,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Wix.com by 47.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,397,962 shares of the information services provider’s stock valued at $145,238,000 after buying an additional 449,699 shares during the last quarter. Finally, Durable Capital Partners LP bought a new position in shares of Wix.com in the third quarter valued at about $183,286,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WIX. Needham & Company LLC cut their price target on Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Bank of America cut their price target on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. UBS Group cut Wix.com from a “buy” rating to a “neutral” rating and cut their price target for the company from $145.00 to $96.00 in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada cut their price target on Wix.com from $155.00 to $112.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.65.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $80.12 on Monday. The stock has a market capitalization of $4.67 billion, a P/E ratio of 98.91, a P/E/G ratio of 2.37 and a beta of 1.01. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $191.24. The business has a 50-day moving average price of $80.31 and a two-hundred day moving average price of $93.98.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.45. The firm had revenue of $524.27 million during the quarter, compared to analysts’ expectations of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. As a group, equities analysts predict that Wix.com Ltd. will post 1.63 EPS for the current year.

Wix.com announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to repurchase up to 40.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.