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

Ticker: WIX · Form: SC 13D/A · Filed: 2024-01-24T00:00:00.000Z

Sentiment: neutral

Topics: activist-investing, insider-filing, ownership-change

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

FAQ

What type of filing is this document?

This document is an 'Amendment No. 3 to the Schedule 13D', specifically an SC 13D/A, as stated in the filing's title and form type.

Who is the 'Subject Company' in this filing?

The 'Subject Company' is Wix.com Ltd., as explicitly stated under the 'SUBJECT COMPANY' section of the filing.

Who is the 'Filer' of this Schedule 13D/A?

The filer of this Schedule 13D/A is Starboard Value LP, as indicated under the 'FILED BY' section.

What is the CUSIP Number for Wix.com Ltd.'s securities mentioned in the filing?

The CUSIP Number for Wix.com Ltd.'s Ordinary shares is M98068105, as listed in the filing under 'CUSIP Number'.

What was the specific date of the event that required this amendment to be filed?

The date of the event which required the filing of this statement was January 22, 2024, as stated in the filing under 'Date of Event Which Requires Filing of This Statement'.

From the Filing

0000921895-24-000130.txt : 20240124 0000921895-24-000130.hdr.sgml : 20240124 20240124171544 ACCESSION NUMBER: 0000921895-24-000130 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Wix.com Ltd. CENTRAL INDEX KEY: 0001576789 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87865 FILM NUMBER: 24557587 BUSINESS ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 BUSINESS PHONE: 97235454900 MAIL ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 FORMER COMPANY: FORMER CONFORMED NAME: Wixpress Ltd. DATE OF NAME CHANGE: 20130513 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Starboard Value LP CENTRAL INDEX KEY: 0001517137 ORGANIZATION NAME: CF IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 777 THIRD AVENUE, 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: (212) 845-7977 MAIL ADDRESS: STREET 1: 777 THIRD AVENUE, 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 sc13da306297326_01242024.htm AMENDMENT NO. 3 TO THE SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a) (Amendment No. 3) 1 Wix.com Ltd. (Name of Issuer) Ordinary shares, par value NIS 0.01 per share (Title of Class of Securities) M98068105 (CUSIP Number) JEFFREY C. SMITH STARBOARD VALUE LP 777 Third Avenue, 18th Floor New York, New York 10017 (212) 845-7977 ANDREW FREEDMAN, ESQ. MEAGAN REDA, ESQ. OLSHAN FROME WOLOSKY LLP 1325 Avenue of the Americas New York, New York 10019 (212) 451-2300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 22, 2024 (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨ . Note:   Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.   See § 240.13d-7 for other parties to whom copies are to be sent. 1               The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ). CUSIP No. M98068105 1 NAME OF REPORTING PERSON STARBOARD VALUE LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ 3 SEC USE ONLY 4 SOURCE OF FUNDS OO 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ 6 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 2,789,000 OWNED BY 8 SHARED VOTING POWER EACH REPORTING - 0 - PERSON WITH 9 SOLE DISPOSITIVE POWER 2,789,000 10 SHARED DISPOSITIVE POWER - 0 - 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,789,000 12 CHECK BOX

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