Robeco Institutional Asset Management B.V. Decreases Stake in Wix.com Ltd. $WIX

Robeco Institutional Asset Management B.V. lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,387 shares of the information services provider’s stock after selling 24,065 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Wix.com were worth $5,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in shares of Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after buying an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Wix.com by 90.4% in 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 buying an additional 1,609,989 shares during the last quarter. Dorsal Capital Management LP raised its holdings in shares of Wix.com by 50.0% in the third quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock worth $279,767,000 after buying an additional 525,000 shares during the last quarter. Durable Capital Partners LP purchased a new position in shares of Wix.com in the third quarter worth $183,286,000. Finally, Bank of America Corp DE raised its holdings in shares of Wix.com by 70.2% in the third quarter. Bank of America Corp DE now owns 1,014,093 shares of the information services provider’s stock worth $180,133,000 after buying an additional 418,269 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of Wix.com stock opened at $68.70 on Friday. The firm has a fifty day moving average price of $78.82 and a 200 day moving average price of $101.02. Wix.com Ltd. has a 1 year low of $60.22 and a 1 year high of $191.24. The stock has a market cap of $4.01 billion, a PE ratio of 84.81, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The company had revenue of $524.27 million during the quarter, compared to analysts’ expectations of $527.69 million. During the same quarter in the previous year, the company earned $2.10 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information services provider to buy up to 40.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WIX shares. Barclays reduced their target price on shares of Wix.com from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. JPMorgan Chase & Co. cut shares of Wix.com from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $114.00 to $91.00 in a report on Friday, March 27th. UBS Group cut shares of Wix.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $96.00 in a report on Thursday, April 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and an average target price of $128.45.

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.