On February 17, 2026, No Street Capital reported selling 50,000 shares of Wix.com (WIX 3.24%), an estimated $6.05 million trade based on quarterly average pricing.
What happened
According to a recent SEC filing, No Street reduced its stake in Wix.com Ltd. by 50,000 shares during the fourth quarter. The estimated value of the sale is $6.05 million, calculated using the mean unadjusted closing price over the quarter. At quarter-end, the fund held 500,000 shares, with the position valued at $51.95 million. The net position change, reflecting both trading and market movement, totaled $45.75 million.
What else to know
- Following the sale, WIX represents 3.5% of No Street GP LP’s 13F assets, which places it outside the fund’s top five holdings.
- Top holdings after the filing:
- NYSE: UBER: $114.39 million (7.7% of AUM)
- NYSE: FICO: $110.74 million (7.5% of AUM)
- NYSE: TWLO: $109.91 million (7.4% of AUM)
- NYSE: CVNA: $101.07 million (6.8% of AUM)
- NASDAQ: APP: $95.35 million (6.4% of AUM)
- As of February 17, 2026, Wix shares were priced at $68.07, down 70% over the past year and vastly underperforming the S&P 500, which is instead up about 17%.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.93 billion |
| Net income (TTM) | $138.90 million |
| Market capitalization | $3.8 billion |
Company snapshot
- Wix.com offers a cloud-based website creation platform, including Wix Editor, Wix ADI, Corvid by Wix, Ascend by Wix, Wix Logo Maker, Wix Answers, Wix Payments, and a suite of vertical-specific business applications.
- The company generates revenue primarily through premium subscriptions, value-added services, and transaction fees from business solutions and payment processing.
- It targets individuals, small businesses, and enterprises seeking to establish and manage an online presence globally.
Wix.com is a leading provider of cloud-based web development solutions, enabling users to build, manage, and grow their digital presence. The company leverages a subscription-based business model, supported by a broad suite of complementary services and payment solutions, to drive recurring revenue and customer engagement. Its scalable platform and global reach position Wix.com as a key player in the website infrastructure and online business enablement market.
What this transaction means for investors
Wix is quietly morphing into an AI-enabled platform with meaningful operating leverage, but the stock price is telling a far uglier narrative.
In the third quarter, revenue rose 14% year over year to $505.2 million, with total bookings up 14% to $514.5 million. Free cash flow, meanwhile, reached $127.3 million in the quarter, and management now expects roughly $600 million in free cash flow for 2025, excluding acquisition costs.
Base44 is the swing factor. Management said the AI application-builder was on track for at least $50 million in ARR by year’s end, with market share already above 10% in its category.
Ultimately, against a portfolio stacked with higher beta names like Uber, FICO, Twilio, and Carvana, trimming a 3.5% position in a stock down 70% over the past year could simply reflect risk balancing. And for long-term investors, the real debate is durability. Bookings momentum, rising ARR, and strong free cash flow suggest the business is stabilizing. Execution in AI and margin discipline will determine whether this is a value trap or a reset with teeth.
