Swiss National Bank Decreases Stock Holdings in Wix.com Ltd. $WIX

Key Points

• Swiss National Bank cut its Wix.com stake by 26.5% in the first quarter, selling 39,500 shares and retaining 109,786 shares valued at approximately $9.9 million. Institutional investors collectively own 81.52% of the company.
• Analyst sentiment is mixed, with Wix.com carrying a consensus “Hold” rating and a $94.10 average price target, although several firms recently reduced their targets and ratings.
• Wix.com shares opened at $51.41, near the lower end of their 52-week range, after the company reported quarterly EPS of $0.68—below the $1.21 consensus estimate—while revenue rose 14.2% year over year to $541.17 million.

Swiss National Bank reduced its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 26.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,786 shares of the information services provider's stock after selling 39,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Wix.com worth $9,888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California Public Employees Retirement System grew its stake in Wix.com by 6.4% in the 1st quarter. California Public Employees Retirement System now owns 104,711 shares of the information services provider's stock valued at $9,431,000 after purchasing an additional 6,266 shares during the period. Independent Financial Group LLC bought a new stake in shares of Wix.com during the 1st quarter worth $254,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Wix.com by 9.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 57,989 shares of the information services provider's stock worth $5,223,000 after buying an additional 5,152 shares during the last quarter. Hsbc Holdings PLC grew its position in Wix.com by 11,894.0% during the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider's stock valued at $318,676,000 after buying an additional 3,500,047 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its position in Wix.com by 32.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 23,532 shares of the information services provider's stock valued at $2,120,000 after buying an additional 5,812 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald lowered their price objective on shares of Wix.com from $110.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Scotiabank reissued an "outperform" rating on shares of Wix.com in a research report on Tuesday, June 9th. Citizens Jmp lowered shares of Wix.com from a "market outperform" rating to a "market perform" rating in a research note on Tuesday, April 7th. Citigroup decreased their price target on shares of Wix.com from $66.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, June 9th. Finally, Royal Bank Of Canada lowered their price target on shares of Wix.com from $60.00 to $45.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $94.10.

Wix.com Stock Performance

Shares of Wix.com stock opened at $51.41 on Monday. The stock has a market capitalization of $3.00 billion, a P/E ratio of -65.91 and a beta of 0.93. Wix.com Ltd. has a 52-week low of $40.16 and a 52-week high of $190.93. The stock's 50-day simple moving average is $49.74 and its 200 day simple moving average is $69.08.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share 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 for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 EPS. Equities research analysts forecast that Wix.com Ltd. will post -0.16 EPS for the current fiscal year.

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.

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