Wealth Enhancement Advisory Services LLC Acquires 528 Shares of Wix.com Ltd. $WIX

Wealth Enhancement Advisory Services LLC grew its position in Wix.com Ltd. (NASDAQ:WIX) by 22.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,842 shares of the information services provider’s stock after buying an additional 528 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Wix.com were worth $467,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Wix.com by 31.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider’s stock valued at $830,000 after buying an additional 1,204 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Wix.com by 5.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,720 shares of the information services provider’s stock worth $5,185,000 after purchasing an additional 1,794 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Wix.com by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock worth $299,000 after purchasing an additional 85 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Wix.com in the 1st quarter worth approximately $5,367,000. Finally, Goldman Sachs Group Inc. boosted its stake in Wix.com by 25.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after purchasing an additional 155,977 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Down 1.2%

WIX opened at $151.77 on Monday. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 54.01, a PEG ratio of 2.92 and a beta of 1.32. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11. The firm’s fifty day simple moving average is $148.46 and its two-hundred day simple moving average is $156.34.

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, beating the consensus estimate of $1.79 by $0.49. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. On average, research analysts forecast that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has initiated a stock buyback plan on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Scotiabank set a $255.00 target price on shares of Wix.com and gave the stock a “sector outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. JMP Securities reissued a “market outperform” rating and set a $210.00 price target on shares of Wix.com in a research report on Friday. Citigroup reissued an “outperform” rating on shares of Wix.com in a research report on Tuesday, September 23rd. Finally, Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $215.37.

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.