Shannon River Cuts Wix.com Stake by 86%, EPS Forecast Slumps 29.5%
Shannon River Fund sold 283,352 Wix.com shares for $34.26M in Q4, cutting its position by 86% to 46,731 shares after a 69.4% one-year decline despite $1.9B in revenue. Wix.com expects March 4 earnings of EPS $1.36 (-29.5% YoY) on $528M revenue (+14.7%), trading at a 10.6 forward P/E and 0.57 PEG.
1. Major Fund Cuts Stake
Shannon River Fund Management sold 283,352 Wix.com shares in Q4 for $34.26M, reducing its holdings by 86% to 46,731 shares. This move follows a 69.4% stock drop over the past year, a decline that contrasts with Wix.com’s $1.9 billion in annual revenue.
2. Earnings Forecast and Valuation
Wix.com is set to report Q4 earnings on March 4, with analysts projecting EPS of $1.36, down 29.5% year-over-year, on $528.03 million in revenue, up 14.7%. The shares trade at a forward P/E of 10.6 versus an industry average of 13.6 and carry a 0.57 PEG ratio, suggesting a valuation discount.