Y.D. More Investments Ltd Sells 62,994 Shares of Wix.com Ltd. $WIX

Y.D. More Investments Ltd lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 79.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,700 shares of the information services provider’s stock after selling 62,994 shares during the period. Y.D. More Investments Ltd’s holdings in Wix.com were worth $1,735,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WIX. Ameriprise Financial Inc. boosted its position in Wix.com by 128.3% in 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 buying an additional 2,606,204 shares during the last quarter. Lone Pine Capital LLC acquired a new position in shares of Wix.com during the second quarter valued at $342,485,000. Wellington Management Group LLP boosted its holdings in Wix.com by 90.4% in the third 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. Durable Capital Partners LP acquired a new stake in Wix.com in the third quarter worth about $183,286,000. Finally, Holocene Advisors LP bought a new stake in Wix.com during the 3rd quarter worth about $115,982,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $81.95 on Monday. The firm’s 50 day simple moving average is $81.27 and its 200 day simple moving average is $106.81. Wix.com Ltd. has a fifty-two week low of $60.22 and a fifty-two week high of $191.24. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 101.17, a P/E/G ratio of 2.82 and a beta of 1.26.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data 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 firm had revenue of $524.27 million during the quarter, compared to analysts’ expectations of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 earnings per share. Equities research analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com declared that its board has authorized a stock buyback program on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Morgan Stanley cut their price objective on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Citigroup lowered their target price on shares of Wix.com from $150.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Wells Fargo & Company dropped their target price on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings downgraded Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.70.

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.