Wix.com Ltd. $WIX Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 75.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,779 shares of the information services provider’s stock after selling 43,302 shares during the period. Assenagon Asset Management S.A.’s holdings in Wix.com were worth $1,432,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Wix.com by 36.6% during the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock worth $266,000 after buying an additional 436 shares during the last quarter. Woodline Partners LP lifted its position in Wix.com by 9.7% in the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after purchasing an additional 202 shares during the period. Geneos Wealth Management Inc. boosted its holdings 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 purchasing an additional 215 shares in the last quarter. Cetera Investment Advisers increased its position in Wix.com by 18.9% during the 2nd quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock worth $294,000 after purchasing an additional 295 shares during the period. Finally, American Century Companies Inc. increased its position in Wix.com by 29.5% during the 2nd quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock worth $1,098,000 after purchasing an additional 1,580 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on WIX. Robert W. Baird downgraded shares of Wix.com from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $115.00 to $90.00 in a report on Monday, March 9th. Scotiabank cut their price target on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 5th. Wells Fargo & Company lowered their price objective on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Wix.com in a report on Thursday, March 5th. Finally, Piper Sandler assumed coverage on Wix.com in a report on Thursday, March 12th. They set a “neutral” rating and a $98.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.15.

Wix.com Trading Up 2.6%

Shares of Wix.com stock opened at $90.07 on Wednesday. Wix.com Ltd. has a twelve month low of $60.22 and a twelve month high of $191.24. The company has a fifty day moving average price of $81.24 and a 200 day moving average price of $108.75. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 111.20, a price-to-earnings-growth ratio of 2.88 and a beta of 1.39.

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

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

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.