Pictet Asset Management Holding SA Has $909,000 Stake in Wix.com Ltd. $WIX

Pictet Asset Management Holding SA lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 78.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,088 shares of the information services provider’s stock after selling 37,326 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wix.com were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Wix.com in the fourth quarter valued at approximately $27,000. 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 purchasing an additional 215 shares in the last quarter. Employees Retirement System of Texas grew its stake in shares of Wix.com by 129.9% in the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock valued at $46,000 after buying an additional 252 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in Wix.com by 464.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock worth $52,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on WIX. Barclays cut their price target on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Scotiabank restated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Oppenheimer reduced their target price on Wix.com from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Citizens Jmp downgraded Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Finally, Bank of America dropped their price objective on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.75.

Wix.com Price Performance

WIX stock opened at $50.36 on Wednesday. The business’s fifty day moving average price is $55.17 and its two-hundred day moving average price is $73.95. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -64.56 and a beta of 0.93. Wix.com Ltd. has a fifty-two week low of $40.16 and a fifty-two week high of $190.93.

Wix.com (NASDAQ:WIX) last released 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). 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.69 earnings per share. Research analysts expect that Wix.com Ltd. will post -0.17 EPS for the current year.

Wix.com 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.