Wix.com Ltd. $WIX Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Wix.com stake by 57.5% in Q1, buying 578,729 additional shares and bringing its total holding to 1,585,962 shares worth about $142.8 million.
• Other institutions also raised exposure to Wix.com, and hedge funds and other investors now own 81.52% of the company’s stock.
• Wix.com shares rose 5.3% to $51.41, but the company recently missed quarterly earnings estimates, with EPS of $0.68 versus the $1.21 consensus and revenue slightly below expectations.

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 57.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,585,962 shares of the information services provider's stock after buying an additional 578,729 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.72% of Wix.com worth $142,848,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WIX. Hsbc Holdings PLC boosted its stake in shares of Wix.com by 11,894.0% during the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider's stock worth $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Wellington Management Group LLP boosted its position in Wix.com by 90.4% during the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider's stock worth $602,270,000 after purchasing an additional 1,609,989 shares in the last quarter. Senvest Management LLC boosted its position in Wix.com by 20.9% during the fourth quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider's stock worth $312,551,000 after purchasing an additional 519,805 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Wix.com by 879.0% in the second quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider's stock valued at $321,926,000 after purchasing an additional 1,824,070 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of Wix.com in the fourth quarter valued at $150,622,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Trading Up 5.3%

Shares of Wix.com stock opened at $51.41 on Friday. Wix.com Ltd. has a twelve month low of $40.16 and a twelve month high of $190.93. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93. The company has a fifty day moving average price of $49.74 and a 200 day moving average price of $69.30.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly 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 company had revenue of $541.17 million during the quarter, compared to analysts' expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm's revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 EPS. Analysts forecast that Wix.com Ltd. will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of Wix.com from $110.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company reduced their target price on Wix.com from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings cut Wix.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. Benchmark reissued a "buy" rating on shares of Wix.com in a research report on Tuesday, June 9th. Finally, Barclays cut their price target on Wix.com from $155.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $94.10.

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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