Wix.com Ltd. $WIX Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,119,805 shares of the information services provider’s stock after purchasing an additional 7,729 shares during the period. Acadian Asset Management LLC owned approximately 3.78% of Wix.com worth $335,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. GC Wealth Management RIA LLC purchased a new position in Wix.com in the second quarter worth $417,000. ARK Investment Management LLC grew its stake in shares of Wix.com by 28.2% during the 2nd quarter. ARK Investment Management LLC now owns 10,290 shares of the information services provider’s stock worth $1,631,000 after purchasing an additional 2,266 shares during the period. Nordea Investment Management AB grew its stake in shares of Wix.com by 45.8% during the 2nd quarter. Nordea Investment Management AB now owns 12,653 shares of the information services provider’s stock worth $2,017,000 after purchasing an additional 3,973 shares during the period. Phoenix Financial Ltd. increased its holdings in shares of Wix.com by 38.4% in the 2nd quarter. Phoenix Financial Ltd. now owns 205,258 shares of the information services provider’s stock valued at $32,525,000 after purchasing an additional 57,000 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. lifted its stake in shares of Wix.com by 33.9% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 380,494 shares of the information services provider’s stock valued at $60,293,000 after purchasing an additional 96,400 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler upped their target price on shares of Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. lowered their price target on Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Wix.com in a research note on Tuesday, August 19th. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $210.00 target price on shares of Wix.com in a report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $215.37.

Wix.com Trading Down 0.3%

Shares of WIX stock opened at $135.93 on Friday. The firm has a 50-day moving average price of $152.00 and a 200 day moving average price of $152.32. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 2.54 and a beta of 1.31.

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

Wix.com announced that its Board of Directors has initiated a share buyback 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication 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.