Starboard Value LP Amends Wix.com Stake, Signals Potential Activism

TL;DR

**Starboard Value LP just updated its Wix.com filing, keeping the pressure on!**

AI Summary

Starboard Value LP, an activist investor, filed an Amendment No. 3 to its Schedule 13D on January 24, 2024, regarding its ownership in Wix.com Ltd. This amendment indicates a change in their reported beneficial ownership, specifically noting the date of the event requiring this filing as January 22, 2024. This matters to investors because Starboard Value LP is known for pushing for operational and strategic changes in companies, and any update to their stake or intentions could signal potential future actions that might impact Wix's stock price or management decisions.

Why It Matters

This filing signals that a significant activist investor, Starboard Value LP, continues to monitor and potentially influence Wix.com Ltd., which could lead to strategic changes or pressure on management.

Risk Assessment

Risk Level: medium — The presence of an activist investor like Starboard Value LP can introduce both upside potential and volatility, making the risk level medium.

Analyst Insight

Investors should monitor future filings from Starboard Value LP for any changes in their stake or stated intentions, as well as news from Wix.com Ltd. regarding potential strategic shifts or board changes, which could be influenced by this activist investor.

Key Players & Entities

• Starboard Value LP (company) — the activist investor filing the amendment
• Wix.com Ltd. (company) — the subject company whose shares are being reported
• Jeffrey C. Smith (person) — contact person for Starboard Value LP
• January 22, 2024 (date) — date of the event requiring the filing
• January 24, 2024 (date) — date the SC 13D/A was filed

FAQ

Key Financial Figures

• $105,298,379 — by Starboard V&O Fund is approximately $105,298,379, excluding brokerage commissions. The a
• $12,076,571 — ned by Starboard S LLC is approximately $12,076,571, excluding brokerage commissions. The a
• $8,917,896 — wned by Starboard C LP is approximately $8,917,896, excluding brokerage commissions. The a
• $5,205,580 — by Starboard L Master is approximately $5,205,580, excluding brokerage commissions. The a
• $35,384,400 — by Starboard X Master is approximately $35,384,400, excluding brokerage commissions. The a
• $20,369,435 — board Value LP Account is approximately $20,369,435, excluding brokerage commissions. Item

Filing Documents

• sc13da306297326_01242024.htm (SC 13D/A) — 472KB
• 0000921895-24-000130.txt ( ) — 474KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended and restated to read

Item 3 is hereby amended and restated to read as follows: The Shares purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard X Master and held in the Starboard Value LP Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 1,625,422 Shares beneficially owned by Starboard V&O Fund is approximately $105,298,379, excluding brokerage commissions. The aggregate purchase price of the 189,820 Shares beneficially owned by Starboard S LLC is approximately $12,076,571, excluding brokerage commissions. The aggregate purchase price of the 140,138 Shares beneficially owned by Starboard C LP is approximately $8,917,896, excluding brokerage commissions. The aggregate purchase price of the 78,446 Shares beneficially owned by Starboard L Master is approximately $5,205,580, excluding brokerage commissions. The aggregate purchase price of the 474,672 Shares beneficially owned by Starboard X Master is approximately $35,384,400, excluding brokerage commissions. The aggregate purchase price of the 280,502 Shares held in the Starboard Value LP Account is approximately $20,369,435, excluding brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer .

is hereby amended and restated to read

Item 5 is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 57,161,088 Shares outstanding, as of September 27, 2023, which is the total number of Shares outstanding as reported in Exhibit 99.1 to the Issuer’s Current Report of a Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on September 29, 2023. A. Starboard V&O Fund (a) As of the close of business on January 24, 2024, Starboard V&O Fund beneficially owned 1,625,422 Shares. Percentage: Approximately 2.8% (b) 1. Sole power to vote or direct vote: 1,625,422 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 1,625,422 4. Shared power to dispose or direct the disposition: 0 (c) The transactions in the Shares by Starboard V&O Fund during the past sixty days are set forth in Schedule A and are incorporated herein by reference. B. Starboard S LLC (a) As of the close of business on January 24, 2024, Starboard S LLC beneficially owned 189,820 Shares. 16 CUSIP No. M98068105 Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 189,820 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 189,820 4. Shared power to dispose or direct the disposition: 0 (c) The transactions in the Shares by Starboard S LLC during the past sixty days are set forth in Schedule A and are incorporated herein by reference. C. Starboard C LP (a) As of the close of business on January 24, 2024, Starboard C LP beneficially owned 140,138 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 140,138 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 140,138 4. Shared power to dispose or direct the disposition: 0 (c) The transactions in the Shares by Starboard C LP during the past sixty days are set forth in Schedule A and are

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 24, 2024 STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD By: Starboard Value LP, its investment manager Starboard Value and Opportunity S LLC By: Starboard Value LP, its manager Starboard Value and Opportunity C LP By: Starboard Value R LP, its general partner STARBOARD VALUE R LP By: Starboard Value R GP LLC, its general partner Starboard Value and Opportunity Master Fund L LP By: Starboard Value L LP, its general partner Starboard Value L LP By: Starboard Value R GP LLC, its general partner Starboard X MASTER FUND LTD By: Starboard Value LP, its investment manager STARBOARD VALUE LP By: Starboard Value GP LLC, its general partner STARBOARD VALUE GP LLC By: Starboard Principal Co LP, its member STARBOARD PRINCIPAL CO LP By: Starboard Principal Co GP LLC, its general partner STARBOARD PRINCIPAL CO GP LLC STARBOARD VALUE R GP LLC By: /s/ Jeffrey C. Smith Name: Jeffrey C. Smith Title: Authorized Signatory /s/ Jeffrey C. Smith Jeffrey C. Smith Individually and as attorney-in-fact for Peter A. Feld 22 CUSIP No. M98068105 SCHEDULE A Transactions in the Shares During the Past Sixty Days Nature of the Transaction Amount of Securities Purchased/(Sold) Price ($) Date of Purchase/Sale STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD Sale of Common Stock (8,703) 100.2048 11/28/2023 Sale of Common Stock (60,246) 101.8322 11/29/2023 Sale of Common Stock (23,

View Full Filing

View this SC 13D/A filing on SEC EDGAR