Senvest Management LLC Acquires 746,200 Shares of Wix.com Ltd. $WIX

Senvest Management LLC lifted its holdings in Wix.com Ltd. (NASDAQ:WIX) by 24.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,754,680 shares of the information services provider’s stock after purchasing an additional 746,200 shares during the quarter. Wix.com comprises about 11.2% of Senvest Management LLC’s holdings, making the stock its 2nd biggest position. Senvest Management LLC owned about 0.06% of Wix.com worth $338,184,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Wix.com by 36.6% in the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 436 shares during the period. Woodline Partners LP raised its stake in shares of Wix.com by 9.7% during the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after buying an additional 202 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the period. Cetera Investment Advisers lifted its position in shares of Wix.com by 18.9% during the 2nd quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after buying an additional 295 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Wix.com by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after acquiring an additional 1,580 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Price Performance

WIX opened at $51.41 on Friday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93. The company’s 50 day simple moving average is $49.74 and its two-hundred day simple moving average is $69.30. Wix.com Ltd. has a 1-year low of $40.16 and a 1-year high of $190.93.

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 the consensus estimate 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 company had revenue of $541.17 million during the quarter, compared to analyst estimates of $544.04 million. During the same period in the prior year, the business posted $1.69 EPS. Wix.com’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts anticipate that Wix.com Ltd. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WIX shares. Barclays reduced their price objective on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Royal Bank Of Canada lowered their price objective on Wix.com from $60.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 9th. Cantor Fitzgerald cut their price objective on Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Finally, UBS Group reduced their target price on Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.10.

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.