Swiss National Bank Sells 39,500 Shares of Wix.com Ltd. $WIX

Swiss National Bank cut its stake in Wix.com Ltd. (NASDAQ:WIX) by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,786 shares of the information services provider’s stock after selling 39,500 shares during the quarter. Swiss National Bank’s holdings in Wix.com were worth $9,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Wix.com by 11,894.0% during the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Wellington Management Group LLP grew its holdings in Wix.com by 90.4% during 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 buying an additional 1,609,989 shares in the last quarter. Senvest Management LLC grew its holdings in Wix.com by 20.9% during the 4th quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider’s stock valued at $312,551,000 after buying an additional 519,805 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Wix.com by 879.0% during the second quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider’s stock valued at $321,926,000 after buying an additional 1,824,070 shares during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of Wix.com during the fourth quarter valued at about $150,622,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Oppenheimer decreased their target price on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Barclays decreased their target price on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Bank of America cut their price target on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.10.

Wix.com Price Performance

NASDAQ WIX opened at $51.41 on Monday. The stock’s 50-day simple moving average is $49.74 and its two-hundred day simple moving average is $69.08. Wix.com Ltd. has a twelve month low of $40.16 and a twelve month high of $190.93. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The firm had revenue of $541.17 million during 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 company posted $1.69 earnings per share. On average, equities analysts expect that Wix.com Ltd. will post -0.16 earnings per share for the current fiscal year.

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.