So, Foxhaven Asset Management decided Wix.com was no longer its jam. They quietly exited, taking a cool $122.39 million with them. It’s like realizing your online store builder is… well, building nothing for your portfolio. Honestly, in the world of tech stocks, it’s less a dramatic breakup and more of a “it’s not you, it’s the macroeconomy.”
What Happened (Or, Where Did All the Money Go?)
Foxhaven, apparently sensing a vibe shift, sold off 689,041 shares of Wix. This wasn’t a slow trickle; it was a full-on fire sale. As of February 17, 2026, Wix shares were trading at $68.07. Which, let’s be real, is a 70% drop from its peak. It’s the kind of performance that makes you question all your life choices… and your broker’s.
Let’s Talk Numbers (Because We Have To)
- Top Holdings After the Wix Exit: Apparently, Foxhaven really likes Amazon. $588.68 million worth of liking. Followed by MELI, CPNG, HLT, and FERG. It’s like a really well-funded shopping spree.
- Wix’s Current Situation: Down 70% in a year. The S&P 500 is up 15%. It’s the kind of gap that makes you want to just… build a cabin and live off the grid.
Wix 101: The CliffsNotes Version
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.93 billion |
| Net Income (TTM) | $138.90 million |
| Market Capitalization | $3.79 billion |
| Price (as of 2/17/26) | $68.07 |
Wix lets you build a website without knowing code. It’s like LEGOs for the internet. They make money from subscriptions and fees. They cater to everyone from Etsy shop owners to small businesses. It’s a solid business… on paper.
What This Means for Investors (Or, Should You Panic?)
Operationally, Wix isn’t collapsing. They’re still bringing in revenue – $505 million last quarter, up 14%. Bookings are up, creative subscriptions are doing okay, and they even managed $127 million in free cash flow. They’re even projecting $2.06 to $2.08 billion in bookings for the year. It’s… fine.
The problem isn’t the business; it’s the expectations. Investors used to pay for hypergrowth. Now they’re worried about margin pressure from AI investments, shifting subscription models, and… competition. It’s always competition. It’s like being in high school all over again.
For patient investors, the question is whether Wix can sustain growth and free cash flow while expanding its AI tools. If they can, this reset could be an opportunity. If not… well, at least you’ll have a beautifully designed website to document your financial ruin.
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2026-02-27 18:45