K2 Principal Fund L.P. Acquires New Stake in Wix.com Ltd. $WIX

K2 Principal Fund L.P. acquired a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,000 shares of the information services provider’s stock, valued at approximately $1,143,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WIX. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 132 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com in the 4th quarter worth $27,000. Geneos Wealth Management Inc. increased 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 acquiring an additional 215 shares during the last quarter. Employees Retirement System of Texas increased its stake 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 acquiring an additional 252 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake 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 acquiring an additional 409 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WIX. Oppenheimer cut their target price on Wix.com from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Needham & Company LLC cut their target price on Wix.com from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada cut their target price on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday. Bank of America cut their price objective on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Robert W. Baird downgraded Wix.com from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $90.00 in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average price target of $97.95.

Wix.com Trading Up 4.2%

Shares of NASDAQ:WIX opened at $45.91 on Friday. The business has a 50-day moving average price of $64.81 and a 200 day moving average price of $80.59. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -58.86 and a beta of 0.91. Wix.com Ltd. has a 12-month low of $42.66 and a 12-month high of $190.93.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. As a group, equities research analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

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.