BW Gestao de Investimentos Ltda. Cuts Stock Position in Wix.com Ltd. $WIX

BW Gestao de Investimentos Ltda. lessened its holdings in Wix.com Ltd. (NASDAQ:WIX) by 68.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,431 shares of the information services provider’s stock after selling 60,569 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Wix.com were worth $2,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WIX. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Wix.com during the fourth quarter valued at about $4,087,000. Intech Investment Management LLC purchased a new position in shares of Wix.com during the third quarter valued at about $6,179,000. Dream Peak Capital Ltd purchased a new position in shares of Wix.com during the fourth quarter valued at about $1,500,000. Massachusetts Financial Services Co. MA grew its position in shares of Wix.com by 70.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider’s stock valued at $54,089,000 after purchasing an additional 214,864 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd grew its position in shares of Wix.com by 43.1% during the third quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock valued at $19,269,000 after purchasing an additional 32,686 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Down 8.7%

NASDAQ WIX opened at $57.07 on Wednesday. The firm’s fifty day simple moving average is $71.79 and its two-hundred day simple moving average is $84.55. Wix.com Ltd. has a 12-month low of $51.40 and a 12-month high of $190.93. The firm has a market capitalization of $3.33 billion, a P/E ratio of -73.17, a P/E/G ratio of 2.61 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data 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). The company had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. Wix.com’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. As a group, sell-side analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on WIX shares. Weiss Ratings lowered Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Benchmark dropped their price target on Wix.com from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada downgraded shares of Wix.com from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $90.00 to $60.00 in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.90.

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.