Wix.com Ltd. $WIX Stock Position Lessened by Mizuho Markets Cayman LP

Mizuho Markets Cayman LP trimmed its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 29.9% during the first quarter, Holdings Channel.com reports. The firm owned 37,448 shares of the information services provider’s stock after selling 16,000 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Wix.com were worth $3,373,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP lifted its holdings in Wix.com by 5.5% in the first quarter. First Trust Advisors LP now owns 469,078 shares of the information services provider’s stock worth $42,250,000 after purchasing an additional 24,382 shares during the period. California Public Employees Retirement System increased its stake in Wix.com by 6.4% during the 1st quarter. California Public Employees Retirement System now owns 104,711 shares of the information services provider’s stock valued at $9,431,000 after buying an additional 6,266 shares during the period. Independent Financial Group LLC bought a new stake in shares of Wix.com during the 1st quarter worth about $254,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Wix.com by 9.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 57,989 shares of the information services provider’s stock worth $5,223,000 after buying an additional 5,152 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of 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 worth $318,676,000 after acquiring an additional 3,500,047 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on WIX. Oppenheimer decreased their price objective on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of Wix.com in a report on Monday, June 15th. Benchmark restated a “buy” rating on shares of Wix.com in a research report on Tuesday, June 9th. Cantor Fitzgerald decreased their price target on Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Finally, Weiss Ratings cut Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Wix.com presently has a consensus rating of “Hold” and an average price target of $94.10.

Wix.com Price Performance

Shares of WIX opened at $48.66 on Thursday. The firm’s 50 day moving average is $49.88 and its 200-day moving average is $69.80. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $190.93. The stock has a market capitalization of $2.84 billion, a P/E ratio of -62.38 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate 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 net margin of 1.97% and a negative return on equity of 33.28%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 earnings per share. As a group, equities research analysts forecast that Wix.com Ltd. will post -0.17 EPS 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.