Renaissance Technologies LLC Raises Holdings in Wix.com Ltd. $WIX

Renaissance Technologies LLC boosted its position in Wix.com Ltd. (NASDAQ:WIX) by 52.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 576,049 shares of the information services provider’s stock after acquiring an additional 197,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Wix.com were worth $51,885,000 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 company. Hsbc Holdings PLC increased its stake in Wix.com by 11,894.0% during the first 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 last quarter. Wellington Management Group LLP lifted its stake in shares of Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after purchasing an additional 1,609,989 shares in the last quarter. Senvest Management LLC grew its holdings in shares of Wix.com by 20.9% during the 4th quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider’s stock worth $312,551,000 after purchasing an additional 519,805 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Wix.com by 879.0% during the 2nd 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 during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Wix.com by 57.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after purchasing an additional 578,729 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ WIX opened at $51.41 on Monday. The stock has a market cap of $3.00 billion, a P/E ratio of -65.91 and a beta of 0.93. The company’s fifty day simple moving average is $49.74 and its 200-day simple moving average is $69.08. Wix.com Ltd. has a 52 week low of $40.16 and a 52 week high of $190.93.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $544.04 million. During the same period in the previous year, the business posted $1.69 earnings per share. Wix.com’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, research analysts expect that Wix.com Ltd. will post -0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citizens Jmp lowered shares of Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Wix.com in a research report on Monday, June 15th. Oppenheimer cut their target price on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Benchmark restated a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. Finally, Bank of America decreased their price target on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.10.

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.