Atreides Management LP Invests $129.60 Million in Wix.com Ltd. $WIX

Atreides Management LP purchased a new position in Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,247,457 shares of the information services provider’s stock, valued at approximately $129,598,000. Wix.com makes up 1.6% of Atreides Management LP’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Wix.com by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Wix.com in the 4th quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Employees Retirement System of Texas raised its holdings in shares of Wix.com by 129.9% in the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after purchasing an additional 252 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised 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 worth $52,000 after purchasing an additional 409 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

WIX opened at $42.05 on Thursday. Wix.com Ltd. has a fifty-two week low of $41.85 and a fifty-two week high of $190.93. The business has a 50-day moving average of $62.49 and a 200-day moving average of $79.42. The company has a market capitalization of $2.45 billion, a PE ratio of -53.91 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. During the same period last year, the business earned $1.69 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts expect that Wix.com Ltd. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WIX has been the subject of a number of recent analyst reports. UBS Group decreased their price target on Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, June 10th. Citigroup decreased their price target on Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a research report on Tuesday, June 9th. Robert W. Baird lowered Wix.com from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $115.00 to $90.00 in a research report on Monday, March 9th. Finally, Royal Bank Of Canada decreased their price target on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.95.

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.