Wix.com Ltd. $WIX Stock Holdings Lowered by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in Wix.com Ltd. (NASDAQ:WIX) by 50.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,149 shares of the information services provider’s stock after selling 17,635 shares during the period. Intech Investment Management LLC’s holdings in Wix.com were worth $1,782,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WIX. Ameriprise Financial Inc. increased its position in shares of Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after acquiring an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP grew its position in 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 worth $602,270,000 after acquiring an additional 1,609,989 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Wix.com in the fourth quarter worth approximately $150,622,000. Durable Capital Partners LP bought a new stake in Wix.com in the third quarter worth approximately $183,286,000. Finally, Holocene Advisors LP bought a new stake in Wix.com in the third quarter worth approximately $115,982,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of analyst reports. Needham & Company LLC reduced their price objective on shares of Wix.com from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Bank of America reduced 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. Wells Fargo & Company downgraded shares of Wix.com from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $137.00 to $54.00 in a report on Thursday, May 14th. Scotiabank reduced their price target on shares of Wix.com from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Finally, Royal Bank Of Canada downgraded shares of Wix.com from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $90.00 to $60.00 in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.90.

Wix.com Stock Performance

NASDAQ:WIX opened at $53.70 on Friday. The company has a 50-day moving average of $69.79 and a 200-day moving average of $83.01. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -68.85 and a beta of 0.91. Wix.com Ltd. has a 52 week low of $51.40 and a 52 week high of $190.93.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to the consensus estimate 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 was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.69 earnings per share. Sell-side analysts forecast 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.