Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in Wix.com Ltd. $WIX

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 86.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,360 shares of the information services provider’s stock after selling 75,101 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Wix.com were worth $1,023,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WIX. AQR Capital Management LLC lifted its position in Wix.com by 36.6% during the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 436 shares during the period. Woodline Partners LP lifted its holdings in shares of Wix.com by 9.7% during the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after buying an additional 202 shares during the period. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 215 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Wix.com by 18.9% in the second quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock worth $294,000 after acquiring an additional 295 shares during the period. Finally, American Century Companies Inc. increased its position in Wix.com by 29.5% during the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after acquiring an additional 1,580 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WIX shares. Morgan Stanley cut their price target on Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. UBS Group cut their target price on shares of Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, June 10th. Benchmark reiterated a “buy” rating on shares of Wix.com in a research report on Tuesday, June 9th. Oppenheimer cut their price objective on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald lowered their target price on Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.75.

Wix.com Stock Performance

WIX stock opened at $53.23 on Thursday. Wix.com Ltd. has a one year low of $40.16 and a one year high of $190.93. The company’s fifty day moving average price is $52.16 and its 200-day moving average price is $71.66. The company has a market capitalization of $3.10 billion, a PE ratio of -68.24 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $544.04 million. During the same period last year, the firm posted $1.69 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts predict that Wix.com Ltd. will post -0.17 EPS for the current fiscal year.

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.