Wix.com Ltd. $WIX Shares Sold by Assetmark Inc.

Assetmark Inc. decreased its position in Wix.com Ltd. (NASDAQ:WIX) by 82.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,830 shares of the information services provider’s stock after selling 8,556 shares during the quarter. Assetmark Inc.’s holdings in Wix.com were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted 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 worth $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP purchased a new stake in Wix.com in the first quarter valued at $29,000. Geneos Wealth Management Inc. boosted its stake in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 grew 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 worth $78,000 after purchasing an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 0.3%

Wix.com stock opened at $135.93 on Friday. The stock has a 50-day moving average price of $152.00 and a 200 day moving average price of $152.34. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11. The stock has a market cap of $7.63 billion, a PE ratio of 48.37, a P/E/G ratio of 2.54 and a beta of 1.31.

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

Wix.com declared that its board has approved a share repurchase program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WIX shares. 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 reduced their target price on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Piper Sandler raised their price target on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Wix.com in a research report on Tuesday, August 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $210.00 price objective on shares of Wix.com in a research note on Friday, October 3rd. Three equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $215.37.

About Wix.com

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.