Senvest Management Increases Wix.com Holdings Significantly
Senvest Management, an investment firm based in New York City, has augmented its stake in Wix.com by an impressive 447,765 shares during the third quarter.
This strategic maneuver has heightened the firm’s overall investment value in Wix.com by approximately $118.7 million compared to the preceding quarter.
With nearly 2.5 million shares now in its portfolio, valued at around $442.1 million, Wix.com emerges as Senvest’s most substantial reported position, according to the latest disclosures.
The recent acquisition was highlighted in a filing with the Securities and Exchange Commission (SEC) on November 14, indicating a marked increase in Senvest’s investment portfolio.
As of September 30, Senvest holds a current position worth $442.1 million in Wix.com Ltd. (NASDAQ: WIX), reflecting a robust change of value of about $118.7 million quarter-over-quarter.
The share acquisition by Senvest constitutes approximately 14.2% of the firm’s 13F assets under management.
Prominent Holdings Post-Filing
- NASDAQ: WIX: $442.1 million (14.2% of AUM)
- NASDAQ: TSEM: $405 million (13% of AUM)
- NYSE: EPAM: $146 million (4.7% of AUM)
- NYSE: PATH: $145.3 million (4.7% of AUM)
- NASDAQ: ILMN: $134 million (4.3% of AUM)
On Tuesday, Wix.com Ltd. shares were priced at $105.46, reflecting a staggering decline of 51% over the past year, significantly lagging behind the S&P 500, which experienced a 13% increase over the same timeframe.
Financial Metrics Summary
| Metric | Value |
|---|---|
| Price (as of Tuesday) | $105.46 |
| Market Capitalization | $5.9 billion |
| Revenue (TTM) | $1.9 billion |
| Net Income (TTM) | $138.9 million |
- Wix.com provides a cloud-based platform for the creation of websites and web applications, including offerings such as Wix Editor, Wix ADI, Corvid by Wix, Ascend by Wix, Wix Logo Maker, Wix Answers, Wix Payments, and a marketplace for third-party applications.
- The company monetizes its services through premium subscriptions and a spectrum of value-added business solutions, including various paid application services.
- Wix caters to a global clientele comprising individuals, small enterprises, and larger corporations, primarily focusing on customers in need of intuitive website development and digital business management resources.
As a leading provider of cloud-based solutions for website development and business management, Wix.com delivers a scalable platform combined with an extensive suite of integrated tools that empower users to build, manage, and enhance their online presence with efficiency.
By leveraging a robust freemium model and innovative product offerings, the company upholds a formidable competitive positioning within the realms of website infrastructure and digital commerce.
Source link: Finance.yahoo.com.
