5 Stocks to Invest In According to Carl Anderson’s Marcho Partners

4. Wix.com Ltd. (NASDAQ:WIX)

Marcho Partners’ Stake Value: $173.09 million

Marcho Partners’ 13F Portfolio: 10.86%

Number of Hedge Fund Holders: 25

Wix.com Ltd. (NASDAQ:WIX) is an Israeli company that provides cloud-based web development services from 19 locations across the world. The company has also owned the famous online art community website DevianArt since 2017. It was acquired for $36 million.

At the end of the third quarter of 2021, Marcho Partners owned 883,266 shares of Wix.com Ltd. (NASDAQ:WIX) worth $173.09 million, making up 10.86% of the fund’s portfolio. Marcho Partners increased its holdings in the company by 68% in the same quarter.

Baron Funds mentioned Wix.com Ltd. (NASDAQ:WIX) in its third-quarter 2021 investor letter. Here is what the firm said:

“Underperformance of investments in IT, Consumer Discretionary, and Financials detracted the most from relative results. Wix.com Ltd. provides software that helps microbusinesses build and maintain their websites. Its stock was the largest detractor from performance after the company’s quarterly results showed a modest year-over-year slowdown in new customer additions, driven primarily by the waning of pandemic-driven trends.”