TD Private Client Wealth LLC Raises Stock Position in Wix.com Ltd. $WIX

TD Private Client Wealth LLC increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 25.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 597 shares of the information services provider’s stock after purchasing an additional 121 shares during the quarter. TD Private Client Wealth LLC’s holdings in Wix.com were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Procyon Advisors LLC raised its position in shares of Wix.com by 5.1% during the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 67 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Wix.com by 8.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock valued at $161,000 after purchasing an additional 79 shares during the period. Yousif Capital Management LLC raised its position in shares of Wix.com by 4.9% during the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 85 shares during the period. Finally, Signaturefd LLC raised its position in shares of Wix.com by 3.3% during the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock valued at $556,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WIX. Royal Bank Of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Wix.com in a research report on Tuesday, August 19th. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $173.00 to $216.00 in a report on Monday, June 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, June 18th. Finally, Needham & Company LLC reduced their price target on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $215.37.

Wix.com Stock Performance

NASDAQ:WIX opened at $180.68 on Tuesday. The firm has a 50-day simple moving average of $148.01 and a 200-day simple moving average of $156.67. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11. The firm has a market cap of $10.14 billion, a P/E ratio of 64.30, a P/E/G ratio of 3.41 and a beta of 1.30.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The firm had revenue of $489.93 million during the quarter, compared to analysts’ expectations of $487.62 million. During the same quarter in the prior year, the company earned $1.67 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. On average, research analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its Board of Directors has authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board 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.