Wix.com Ltd. $WIX Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its position in Wix.com Ltd. (NASDAQ:WIX) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,683 shares of the information services provider’s stock after acquiring an additional 618 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Wix.com were worth $3,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Twin Tree Management LP bought a new position in Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. lifted its stake in Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares during the last quarter. Blue Trust Inc. lifted its stake in Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock valued at $78,000 after acquiring an additional 308 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Down 3.4%

WIX opened at $135.89 on Thursday. The firm has a market cap of $7.62 billion, a PE ratio of 48.36, a P/E/G ratio of 2.62 and a beta of 1.32. The business has a fifty day simple moving average of $151.28 and a 200-day simple moving average of $153.21. Wix.com Ltd. has a fifty-two week low of $114.89 and a fifty-two week high of $247.11.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $487.62 million. During the same period in the prior year, the business posted $1.67 earnings per share. Wix.com’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its board has initiated a stock buyback program 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 buy up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

WIX has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Citigroup restated an “outperform” rating on shares of Wix.com in a research note on Tuesday, September 23rd. Cfra Research upgraded shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. UBS Group cut their price objective on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Wix.com in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock 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.