The Manufacturers Life Insurance Company Cuts Stock Position in Wix.com Ltd. $WIX

The Manufacturers Life Insurance Company decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 88.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,676 shares of the information services provider’s stock after selling 21,353 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Wix.com were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in Wix.com by 11,894.0% in the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Wix.com by 879.0% during the second quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider’s stock worth $321,926,000 after purchasing an additional 1,824,070 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Wix.com by 90.4% during the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after purchasing an additional 1,609,989 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Wix.com in the fourth quarter worth about $150,622,000. Finally, Atreides Management LP purchased a new stake in shares of Wix.com in the fourth quarter worth about $129,598,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com News Roundup

Here are the key news stories impacting Wix.com this week:

• Neutral Sentiment: The lawsuit alleges violations of U.S. securities laws by Wix.com and certain officers, reportedly involving statements or omissions related to the capabilities of the company’s Wix Harmony web-development platform. The allegations have not been proven, and the litigation’s financial impact remains uncertain. Levi & Korsinsky Wix.com lawsuit notice
• Negative Sentiment: The unusually large number of law-firm announcements may amplify investor concern, potentially increasing legal expenses, management distraction, reputational risk, and any eventual settlement or damages exposure. Wix.com securities fraud class action announcement

Analyst Upgrades and Downgrades

WIX has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating on shares of Wix.com in a report on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Wix.com in a research report on Wednesday, August 5th. UBS Group set a $75.00 price objective on shares of Wix.com in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price target on Wix.com from $46.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Benchmark increased their price objective on shares of Wix.com from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $91.10.

Wix.com Price Performance

NASDAQ:WIX opened at $73.72 on Tuesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of -20.82, a P/E/G ratio of 35.23 and a beta of 0.90. The business has a 50 day simple moving average of $52.76 and a 200 day simple moving average of $66.31. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $190.93.

Wix.com (NASDAQ:WIX) last issued its earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $552.56 million. During the same period last year, the company earned $2.28 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts anticipate that Wix.com Ltd. will post 0.24 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.