Y Intercept Hong Kong Ltd Lowers Stock Position in Wix.com Ltd. $WIX

Key Points

• Y Intercept Hong Kong Ltd cut its Wix.com stake by 54.8% in the first quarter, leaving it with 22,843 shares valued at about $2.06 million.
• Wix.com’s latest quarterly results showed mixed performance: revenue rose 14.2% year over year to $541.17 million, but earnings came in well below expectations at $0.68 EPS versus the $1.21 estimate.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $96.75, even as several firms recently lowered targets or ratings.

Y Intercept Hong Kong Ltd trimmed its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 54.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,843 shares of the information services provider's stock after selling 27,732 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Wix.com were worth $2,057,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WIX. Ameriprise Financial Inc. raised its position in shares of Wix.com by 128.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider's stock valued at $823,813,000 after purchasing an additional 2,606,204 shares during the period. Wellington Management Group LLP boosted its holdings in Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider's stock worth $602,270,000 after buying an additional 1,609,989 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in Wix.com in the 4th quarter worth $150,622,000. Atreides Management LP bought a new stake in Wix.com during the fourth quarter valued at about $129,598,000. Finally, Durable Capital Partners LP bought a new position in shares of Wix.com in the third quarter worth about $183,286,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Price Performance

Shares of WIX stock opened at $47.76 on Thursday. The company has a market capitalization of $2.78 billion, a P/E ratio of -61.23 and a beta of 0.93. The company's 50-day simple moving average is $54.60 and its two-hundred day simple moving average is $73.55. Wix.com Ltd. has a one year low of $40.16 and a one year high of $190.93.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. On average, research analysts expect that Wix.com Ltd. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WIX shares. Weiss Ratings cut shares of Wix.com from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 29th. Citigroup lowered their price objective on Wix.com from $66.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, June 9th. Scotiabank reissued an "outperform" rating on shares of Wix.com in a research note on Tuesday, June 9th. JPMorgan Chase & Co. lowered their target price on shares of Wix.com from $86.00 to $62.00 and set an "underweight" rating for the company in a report on Thursday, June 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price target on shares of Wix.com in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.75.

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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