Nordea Investment Management AB Has $614,000 Stake in Wix.com Ltd. $WIX

Nordea Investment Management AB lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 55.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,967 shares of the information services provider’s stock after selling 7,537 shares during the quarter. Nordea Investment Management AB’s holdings in Wix.com were worth $614,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. increased its stake in Wix.com by 632.4% in the first 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. National Bank of Canada FI acquired a new position in shares of Wix.com during the third quarter valued at about $54,000. MAI Capital Management raised its holdings in shares of Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 191 shares during the period. Finally, Wexford Capital LP bought a new position in shares of Wix.com during the 3rd quarter worth about $88,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several research reports. Oppenheimer reduced their target price on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Barclays cut their price target on Wix.com from $205.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Jefferies Financial Group reduced their price objective on Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Needham & Company LLC decreased their price objective on Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Wix.com in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.15.

Wix.com Price Performance

WIX opened at $87.14 on Friday. Wix.com Ltd. has a fifty-two week low of $60.22 and a fifty-two week high of $191.24. The firm has a market capitalization of $5.08 billion, a PE ratio of 107.58, a P/E/G ratio of 2.86 and a beta of 1.39. The company’s 50-day moving average is $80.81 and its 200 day moving average is $110.27.

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

Wix.com announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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.