Just saw Dorsal Capital trimmed their Wix position back in Q4 - sold off 25000 shares for about $3 million. Not a huge move honestly, only like 2% of their total stake, but interesting timing given how badly the stock got hammered that quarter.

Wix dropped nearly 42% in Q4 2025, which is pretty brutal. The fund still holds over 1.5 million shares worth around $161 million after the sale, so they're clearly not bailing completely. Even with that massive slide, Wix remains one of their bigger holdings at 5.6% of their portfolio.

What's curious is the fundamental situation. Q3 revenue was up 14% year-over-year, but operating costs spiked hard enough to turn a profit into a loss. Compare that to Q3 2024 when they made $27 million - pretty different story. That expense jump probably scared off a lot of investors.

That said, the P/E has compressed to 30, and the forward multiple is sitting at just 10. If the company can actually get costs under control, that valuation might look pretty cheap in hindsight. Maybe that's why Dorsal kept 25000 shares worth of exposure - they're betting on a turnaround but also taking some chips off the table after the run-down.