Principal Financial Group Inc. Has $145.24 Million Stock Holdings in Wix.com Ltd. $WIX

Key Points

• Principal Financial Group increased its stake in Wix by 47.4% in Q4, owning 1,397,962 shares valued at about $145.24 million, roughly 2.49% of the company.
• Wix authorized a $2.00 billion share buyback (up to 40.5% of shares) and reported quarterly EPS of $1.81 (beating the $1.36 estimate) with revenue of $524.27 million, up 13.9% year‑over‑year but slightly below expectations.
• Analysts have a consensus rating of “Moderate Buy” with a $124.65 average price target, while the company’s market cap is about $4.36 billion and the stock has traded between $60.22 and $191.24 over the past year.

Principal Financial Group Inc. grew its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,397,962 shares of the information services provider's stock after purchasing an additional 449,699 shares during the quarter. Principal Financial Group Inc. owned approximately 2.49% of Wix.com worth $145,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Wix.com by 122.2% in 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 period. Westside Investment Management Inc. boosted its holdings in Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider's stock valued at $27,000 after acquiring an additional 77 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Wix.com during the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. grew its position in shares of Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock valued at $41,000 after purchasing an additional 215 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Wix.com in the third quarter valued at about $54,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 price objective on shares of Wix.com in a research report on Wednesday, March 4th. Scotiabank dropped their price target on Wix.com from $175.00 to $125.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 5th. Needham & Company LLC cut their price target on Wix.com from $140.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price objective on shares of Wix.com in a research note on Thursday, March 5th. Finally, Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and a consensus price target of $124.65.

Wix.com Trading Down 2.9%

Shares of NASDAQ:WIX opened at $74.80 on Thursday. The firm has a market capitalization of $4.36 billion, a PE ratio of 92.35, a PEG ratio of 2.35 and a beta of 1.01. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $191.24. The business's 50 day moving average is $80.01 and its 200-day moving average is $94.34.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The business had revenue of $524.27 million during the quarter, compared to analyst estimates of $527.69 million. During the same period in the prior year, the company posted $2.10 earnings per share. Wix.com's revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts predict that Wix.com Ltd. will post 1.57 EPS for the current year.

Wix.com announced that its board has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to buy up to 40.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.

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