Wix.com Ltd. $WIX Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,696 shares of the information services provider’s stock after selling 380 shares during the quarter. Rhumbline Advisers’ holdings in Wix.com were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC lifted its position in Wix.com by 55.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after acquiring an additional 380,800 shares during the period. Goldman Sachs Group Inc. lifted its position in Wix.com by 25.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after acquiring an additional 155,977 shares during the period. Durable Capital Partners LP lifted its position in Wix.com by 38.7% during the 1st quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock worth $94,892,000 after acquiring an additional 162,075 shares during the period. Alliancebernstein L.P. lifted its position in Wix.com by 115.8% during the 1st quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock worth $91,528,000 after acquiring an additional 300,565 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in Wix.com by 15.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider’s stock worth $81,724,000 after acquiring an additional 51,581 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on WIX shares. Barclays set a $235.00 price objective on Wix.com and gave the stock an “overweight” rating in a research report on Thursday, August 7th. JMP Securities raised their price target on Wix.com from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Monday, August 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Wix.com in a report on Tuesday, August 19th. Raymond James Financial reissued a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. Finally, Piper Sandler reduced their price target on Wix.com from $262.00 to $225.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $215.63.

Wix.com Stock Up 4.2%

WIX stock opened at $178.00 on Wednesday. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11. The stock’s fifty day simple moving average is $143.16 and its 200-day simple moving average is $156.93. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 63.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business had revenue of $489.93 million for the quarter, compared to analysts’ expectations of $487.62 million. During the same quarter last year, the firm earned $1.67 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.