Wix.com Ltd. $WIX Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC lowered its holdings in Wix.com Ltd. (NASDAQ:WIX) by 95.5% during the second quarter, HoldingsChannel reports. The fund owned 5,622 shares of the information services provider’s stock after selling 120,173 shares during the period. VELA Investment Management LLC’s holdings in Wix.com were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Wix.com by 632.4% during 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 lifted its position in shares of Wix.com by 129.9% during 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. Banque Cantonale Vaudoise boosted its holdings in shares of Wix.com by 464.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock valued at $52,000 after buying an additional 409 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Wix.com in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

NASDAQ WIX opened at $76.21 on Tuesday. Wix.com Ltd. has a 52-week low of $40.16 and a 52-week high of $190.93. The business’s 50-day moving average price is $64.44 and its 200 day moving average price is $66.88. The firm has a market cap of $4.44 billion, a P/E ratio of -21.53, a P/E/G ratio of 36.22 and a beta of 1.02.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%.The firm had revenue of $563.06 million during the quarter, compared to the consensus estimate of $552.56 million. During the same period in the prior year, the business earned $2.28 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that Wix.com Ltd. will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WIX. Evercore set a $95.00 price objective on Wix.com in a report on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Wix.com in a research report on Wednesday, August 5th. UBS Group set a $75.00 price target on Wix.com in a research note on Wednesday, August 5th. Benchmark reaffirmed a “buy” rating on shares of Wix.com in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company increased their price objective on Wix.com from $46.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has a consensus rating of “Hold” and a consensus target price of $90.57.

Insider Activity

In related news, Director Ron Gutler sold 5,718 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $85.42, for a total transaction of $488,431.56. Following the completion of the sale, the director directly owned 15,631 shares of the company’s stock, valued at $1,335,200.02. This trade represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avishai Abrahami acquired 654 shares of the company’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $59.89 per share, for a total transaction of $39,168.06. Following the completion of the purchase, the chief executive officer directly owned 486,225 shares in the company, valued at $29,120,015.25. This trade represents a 0.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 2,622 shares of company stock valued at $157,032. 6.20% of the stock is currently owned by company insiders.

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.