Wix.com Ltd. $WIX Stock Holdings Reduced by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings sharply reduced its Wix.com position by 84.8% in Q1, selling 641,584 shares and leaving it with 115,282 shares worth about $10.4 million.
• Several analysts turned more cautious on Wix.com, including rating downgrades and lower price targets from firms such as Morgan Stanley and RBC. The stock’s consensus rating is now Hold, with an average target price of $94.10.
• Wix.com reported weaker-than-expected quarterly results, with EPS of $0.68 missing estimates and revenue of $541.17 million slightly below expectations. The stock was trading around $51.12, far below its 52-week high of $190.93.

Temasek Holdings Private Ltd cut its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 84.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,282 shares of the information services provider's stock after selling 641,584 shares during the period. Temasek Holdings Private Ltd owned 0.20% of Wix.com worth $10,383,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Wix.com in the fourth quarter valued at approximately $4,087,000. Dream Peak Capital Ltd acquired a new position in shares of Wix.com during the 4th quarter worth $1,500,000. Massachusetts Financial Services Co. MA increased its stake in shares of Wix.com by 70.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider's stock worth $54,089,000 after purchasing an additional 214,864 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Wix.com by 139.7% during the 4th quarter. SG Americas Securities LLC now owns 952,803 shares of the information services provider's stock worth $98,987,000 after purchasing an additional 555,305 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Wix.com by 47.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,397,962 shares of the information services provider's stock valued at $145,238,000 after purchasing an additional 449,699 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WIX shares. Weiss Ratings lowered shares of Wix.com from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 29th. Royal Bank Of Canada lowered their target price 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. Morgan Stanley cut Wix.com from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $112.00 to $60.00 in a research report on Tuesday. Citizens Jmp downgraded Wix.com from a "market outperform" rating to a "market perform" rating in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company decreased their price target on Wix.com from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Thursday, July 16th. 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. According to MarketBeat, Wix.com presently has an average rating of "Hold" and an average target price of $94.10.

Wix.com Trading Down 4.2%

NASDAQ WIX opened at $51.12 on Wednesday. Wix.com Ltd. has a 1 year low of $40.16 and a 1 year high of $190.93. The company has a fifty day simple moving average of $50.02 and a 200 day simple moving average of $70.18. The company has a market cap of $2.98 billion, a P/E ratio of -65.54 and a beta of 0.93.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm had revenue of $541.17 million during the quarter, compared to the consensus estimate of $544.04 million. During the same quarter last year, the business earned $1.69 EPS. The business's revenue was up 14.2% compared to the same quarter last year. Equities research analysts forecast that Wix.com Ltd. will post -0.17 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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