Arrowstreet Capital Limited Partnership Grows Stock Holdings in Wix.com Ltd. $WIX

Arrowstreet Capital Limited Partnership boosted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 35.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,007,233 shares of the information services provider’s stock after purchasing an additional 262,980 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Wix.com were worth $104,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Wix.com by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com during the 4th quarter valued at $27,000. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of Wix.com by 129.9% in the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after buying an additional 252 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Wix.com by 464.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock worth $52,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America reduced their price objective on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Needham & Company LLC restated a “buy” rating and set a $80.00 price target on shares of Wix.com in a research note on Monday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price target on shares of Wix.com in a research report on Wednesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Finally, UBS Group dropped their price objective on shares of Wix.com from $68.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.95.

Wix.com Stock Down 0.7%

Shares of WIX opened at $45.59 on Tuesday. The business has a 50-day simple moving average of $64.08 and a two-hundred day simple moving average of $80.16. Wix.com Ltd. has a 52 week low of $42.66 and a 52 week high of $190.93. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -58.45 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. On average, equities analysts anticipate that Wix.com Ltd. will post -0.27 earnings per share 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.