Norges Bank Takes $68.29 Million Position in Wix.com Ltd. $WIX

Norges Bank purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 657,363 shares of the information services provider’s stock, valued at approximately $68,293,000. Norges Bank owned about 1.17% of Wix.com as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WIX. Farther Finance Advisors LLC grew its stake in Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after buying an additional 132 shares during the last quarter. Westside Investment Management Inc. grew its stake in Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Wix.com during the 4th quarter worth approximately $27,000. Geneos Wealth Management Inc. grew its stake in Wix.com by 632.4% during 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. Finally, Employees Retirement System of Texas grew its stake in Wix.com by 129.9% during the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

WIX has been the topic of a number of research reports. Piper Sandler initiated coverage on Wix.com in a research note on Thursday, March 12th. They set a “neutral” rating and a $98.00 price target on the stock. Jefferies Financial Group dropped their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Barclays dropped their price target on Wix.com from $155.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Morgan Stanley dropped their price target on Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Finally, Wells Fargo & Company downgraded Wix.com from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $54.00 in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight 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 an average rating of “Moderate Buy” and a consensus target price of $100.90.

Wix.com Trading Down 2.4%

Wix.com stock opened at $52.39 on Friday. Wix.com Ltd. has a twelve month low of $51.33 and a twelve month high of $190.93. The stock has a 50 day moving average of $69.06 and a two-hundred day moving average of $82.79. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -67.17 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data 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 net margin of 1.97% and a negative return on equity of 33.28%. The firm had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $544.04 million. During the same quarter last year, the business earned $1.69 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current year.

Wix.com 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.