Wix.com Ltd. $WIX Shares Bought by Bamco Inc. NY

Bamco Inc. NY lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 12.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,531 shares of the information services provider’s stock after purchasing an additional 16,901 shares during the period. Bamco Inc. NY owned about 0.27% of Wix.com worth $26,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. grew its stake in Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Wix.com by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock valued at $3,524,000 after acquiring an additional 154 shares during the period. Cerity Partners LLC grew its position in shares of Wix.com by 13.4% during the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after acquiring an additional 175 shares during the last quarter. MAI Capital Management increased its holdings in shares of Wix.com by 109.1% in the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after acquiring an additional 191 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in shares of Wix.com by 32.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock valued at $141,000 after acquiring an additional 195 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WIX has been the subject of a number of recent research reports. Needham & Company LLC decreased their price target on shares of Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Barclays dropped their price objective on shares of Wix.com from $205.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group reduced their target price on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Wix.com in a research note on Thursday, March 5th. Finally, Robert W. Baird lowered Wix.com from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $90.00 in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Price Performance

NASDAQ:WIX opened at $88.09 on Monday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 108.75, a price-to-earnings-growth ratio of 2.83 and a beta of 1.40. The firm’s fifty day moving average price is $81.63 and its 200 day moving average price is $114.11. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $191.24.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.45. The company had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. Wix.com’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.10 EPS. As a group, analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.