Hsbc Holdings PLC Acquires 3,500,047 Shares of Wix.com Ltd. $WIX

Hsbc Holdings PLC raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 11,894.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,529,474 shares of the information services provider’s stock after buying an additional 3,500,047 shares during the period. Hsbc Holdings PLC owned about 0.06% of Wix.com worth $318,676,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com in the 4th quarter worth $27,000. Geneos Wealth Management Inc. raised its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares during the period. Employees Retirement System of Texas raised its holdings in Wix.com by 129.9% in the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after purchasing an additional 252 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in Wix.com by 464.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 409 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Performance

Shares of Wix.com stock opened at $51.45 on Friday. Wix.com Ltd. has a fifty-two week low of $40.16 and a fifty-two week high of $190.93. The company has a market capitalization of $3.00 billion, a P/E ratio of -65.96 and a beta of 0.93. The company has a fifty day moving average of $51.03 and a 200 day moving average of $71.15.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results 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). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. During the same period in the prior year, the business earned $1.69 earnings per share. Wix.com’s revenue was up 14.2% compared to the same quarter last year. Analysts forecast that Wix.com Ltd. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WIX shares. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. UBS Group lowered their price objective on Wix.com from $68.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 10th. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Citigroup reduced their target price on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $80.00 target price on shares of Wix.com in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $96.70.

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.