Atreides Management LP Buys New Position in Wix.com Ltd. $WIX

Atreides Management LP bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,247,457 shares of the information services provider’s stock, valued at approximately $129,598,000. Wix.com comprises approximately 1.6% of Atreides Management LP’s investment portfolio, making the stock its 11th biggest position. Atreides Management LP owned about 2.22% of Wix.com as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in shares of Wix.com by 128.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 valued at $602,270,000 after acquiring an additional 1,609,989 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Wix.com during the 4th quarter valued at about $150,622,000. Durable Capital Partners LP acquired a new position in shares of Wix.com during the 3rd quarter valued at about $183,286,000. Finally, Norges Bank acquired a new position in shares of Wix.com during the 4th quarter valued at about $68,293,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 5.6%

Shares of WIX opened at $42.05 on Thursday. The business’s 50 day moving average is $62.49 and its two-hundred day moving average is $79.42. Wix.com Ltd. has a 52-week low of $41.85 and a 52-week high of $190.93. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -53.91 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The business 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 business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. On average, equities analysts expect that Wix.com Ltd. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WIX shares. Weiss Ratings cut Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Citizens Jmp cut Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Benchmark reiterated a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. Finally, Morgan Stanley decreased their target price on Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.95.

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.