Wix.com Ltd. $WIX Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Wix.com stake by 52.1% in the first quarter, purchasing 197,200 additional shares and ending with 576,049 shares valued at approximately $51.9 million. Institutional investors and hedge funds collectively own 81.52% of Wix.com.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $94.10, though targets were lowered by several firms, including JPMorgan, Oppenheimer and Bank of America.
• Wix shares opened at $51.41, near the lower end of their 12-month range of $40.16 to $190.93. The company’s latest quarterly results missed expectations, with EPS of $0.68 versus $1.21 expected, while revenue rose 14.2% year over year to $541.17 million.

Renaissance Technologies LLC grew its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 52.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,049 shares of the information services provider's stock after purchasing an additional 197,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.99% of Wix.com worth $51,885,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider's stock valued at $25,000 after buying an additional 132 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com in the fourth quarter valued at $27,000. Geneos Wealth Management Inc. lifted 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 acquiring an additional 215 shares in the last quarter. Employees Retirement System of Texas boosted its stake in shares of Wix.com by 129.9% during the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider's stock valued at $46,000 after acquiring an additional 252 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its position in Wix.com by 464.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider's stock worth $52,000 after purchasing an additional 409 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on WIX. Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Wix.com in a report on Monday, June 15th. Scotiabank reiterated an "outperform" rating on shares of Wix.com in a report on Tuesday, June 9th. Bank of America cut their price objective on shares of Wix.com from $136.00 to $109.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Wix.com from $86.00 to $62.00 and set an "underweight" rating on the stock in a research note on Thursday, June 18th. Finally, Oppenheimer decreased their target price on shares of Wix.com from $115.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.10.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $51.41 on Monday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93. The stock's 50-day moving average price is $49.74 and its two-hundred day moving average price is $69.08. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $190.93.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $544.04 million. During the same period in the prior year, the company earned $1.69 EPS. The company's revenue was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that Wix.com Ltd. will post -0.16 earnings per share 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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