Hudson Bay Capital Management LP Purchases New Position in Wix.com Ltd. $WIX

Hudson Bay Capital Management LP acquired a new stake in Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,458 shares of the information services provider’s stock, valued at approximately $2,035,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in shares of Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after buying an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP lifted its position in Wix.com by 90.4% during 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 acquiring an additional 1,609,989 shares in the last quarter. Lone Pine Capital LLC purchased a new position in Wix.com in the 2nd quarter worth approximately $342,485,000. Dorsal Capital Management LP grew its position in Wix.com by 50.0% in the third quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock valued at $279,767,000 after acquiring an additional 525,000 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Wix.com by 27.4% in the second quarter. Lazard Asset Management LLC now owns 1,542,153 shares of the information services provider’s stock valued at $244,368,000 after acquiring an additional 331,283 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 1.4%

WIX stock opened at $88.43 on Friday. The firm has a 50 day simple moving average of $80.63 and a 200-day simple moving average of $112.52. The company has a market capitalization of $5.16 billion, a P/E ratio of 109.17, a PEG ratio of 2.90 and a beta of 1.39. Wix.com Ltd. has a twelve month low of $60.22 and a twelve month high of $191.24.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.45. The firm had revenue of $524.27 million for the quarter, compared to analysts’ expectations of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. On average, research analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has approved a share buyback program on Wednesday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WIX. Oppenheimer reduced their target price on shares of Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Citigroup dropped their price target on shares of Wix.com from $150.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Robert W. Baird lowered shares of Wix.com from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $90.00 in a report on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Wix.com in a research report on Thursday, March 5th. Finally, UBS Group restated a “buy” rating and set a $145.00 target price on shares of Wix.com in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.90.

Wix.com 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.