Pictet Asset Management Holding SA Has $909,000 Position in Wix.com Ltd. $WIX

Pictet Asset Management Holding SA lessened its position in Wix.com Ltd. (NASDAQ:WIX) by 78.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,088 shares of the information services provider’s stock after selling 37,326 shares during the period. Pictet Asset Management Holding SA’s holdings in Wix.com were worth $909,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Wix.com by 1.9% in the 1st quarter. SG Americas Securities LLC now owns 970,500 shares of the information services provider’s stock worth $87,413,000 after acquiring an additional 17,697 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Wix.com by 17.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,741 shares of the information services provider’s stock worth $285,000 after purchasing an additional 410 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Wix.com by 43.5% in the fourth quarter. Corient Private Wealth LLC now owns 6,548 shares of the information services provider’s stock valued at $680,000 after buying an additional 1,985 shares in the last quarter. Avory & Company LLC bought a new position in shares of Wix.com in the fourth quarter valued at about $359,000. Finally, Alberta Investment Management Corp acquired a new position in Wix.com during the 4th quarter worth about $1,039,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $86.00 to $62.00 and set an “underweight” rating on the stock in a research report on Thursday, June 18th. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. Benchmark reissued a “buy” rating on shares of Wix.com in a research note on Tuesday, June 9th. Wells Fargo & Company cut their price target on Wix.com from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 9th. Finally, Cantor Fitzgerald lowered their price objective on Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.75.

Wix.com Stock Up 0.3%

NASDAQ:WIX opened at $50.36 on Wednesday. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $190.93. The stock’s fifty day simple moving average is $55.17 and its 200-day simple moving average is $73.95. The firm has a market capitalization of $2.94 billion, a P/E ratio of -64.56 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last released its 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 during the quarter, compared to analyst estimates of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. As a group, equities research analysts expect that Wix.com Ltd. will post -0.17 earnings per share for the current year.

Wix.com Company 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.