Wix.com Ltd. $WIX Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp massively increased its Wix.com stake in the first quarter, boosting holdings by 7,102.6% to 695,267 shares worth about $62.6 million.
• Institutional ownership remains high, with hedge funds and other institutions holding about 81.52% of Wix.com’s stock, and several other investors also adding to positions recently.
• Wall Street sentiment is mixed: the consensus rating is Hold with an average target price of $94.10, while recent analyst moves included multiple target cuts despite some buy/overweight ratings.

OMERS ADMINISTRATION Corp boosted its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7,102.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 695,267 shares of the information services provider's stock after acquiring an additional 685,614 shares during the quarter. OMERS ADMINISTRATION Corp owned about 1.19% of Wix.com worth $62,623,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in 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 buying an additional 132 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Wix.com in the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. grew its stake in Wix.com by 632.4% in the 1st 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 during the last quarter. Employees Retirement System of Texas increased its holdings in Wix.com by 129.9% during the 4th 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 in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in Wix.com by 464.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider's stock valued at $52,000 after acquiring an additional 409 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WIX. 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 research report on Tuesday, June 9th. Benchmark reaffirmed a "buy" rating on shares of Wix.com in a research note on Tuesday, June 9th. Weiss Ratings cut Wix.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. Barclays dropped their price target on Wix.com from $155.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald cut their price target on Wix.com from $110.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $94.10.

Wix.com Price Performance

WIX opened at $51.41 on Friday. Wix.com Ltd. has a 12 month low of $40.16 and a 12 month high of $190.93. The business has a 50-day moving average of $49.74 and a two-hundred day moving average of $69.30. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (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 during the quarter, compared to analysts' expectations of $544.04 million. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Wix.com's revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts anticipate that Wix.com Ltd. will post -0.16 earnings per share for the current 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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