Cullen Frost Bankers Inc. Has $80,000 Stock Holdings in Wix.com Ltd. $WIX

Cullen Frost Bankers Inc. lessened its position in Wix.com Ltd. (NASDAQ:WIX) by 16.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 508 shares of the information services provider’s stock after selling 100 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Wix.com were worth $80,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new stake in Wix.com in the 2nd quarter valued at approximately $417,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 during the last quarter. Nordea Investment Management AB raised its position in Wix.com by 45.8% in the 2nd quarter. Nordea Investment Management AB now owns 12,653 shares of the information services provider’s stock valued at $2,017,000 after buying an additional 3,973 shares during the last quarter. Phoenix Financial Ltd. raised its stake in shares of Wix.com by 38.4% during the 2nd quarter. Phoenix Financial Ltd. now owns 205,258 shares of the information services provider’s stock worth $32,525,000 after purchasing an additional 57,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Wix.com by 5.8% during 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. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Up 0.5%

WIX stock opened at $140.91 on Friday. The firm has a market capitalization of $7.91 billion, a PE ratio of 50.15, a PEG ratio of 2.63 and a beta of 1.32. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The business’s 50 day simple moving average is $150.61 and its 200 day simple moving average is $153.73.

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

Wix.com declared that its Board of Directors has approved a share repurchase 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 purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WIX. Cfra Research upgraded Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Citigroup reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday, September 23rd. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. JMP Securities reiterated a “market outperform” rating and set a $210.00 price objective on shares of Wix.com in a research note on Friday, October 3rd. Finally, Piper Sandler upped their price objective on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.