Caisse DE Depot ET Placement DU Quebec Acquires New Shares in Wix.com Ltd. $WIX

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 27,193 shares of Wix.com Ltd., valued at approximately $4.4 million, as part of its first quarter investments.
• Wix.com reported earnings per share (EPS) of $2.28 for the last quarter, surpassing estimates by $0.49, with a revenue of $489.93 million, marking a 12.4% increase year-over-year.
• The company initiated a $200 million stock buyback plan, indicating that it believes its stock is undervalued, allowing the repurchase of up to 2.9% of its shares in the market.

Caisse DE Depot ET Placement DU Quebec bought a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,193 shares of the information services provider's stock, valued at approximately $4,443,000.

A number of other large investors have also recently made changes to their positions in the company. Soros Capital Management LLC acquired a new stake in shares of Wix.com in the 1st quarter valued at about $6,821,000. Thematics Asset Management boosted its position in shares of Wix.com by 17.8% in the 1st quarter. Thematics Asset Management now owns 23,042 shares of the information services provider's stock valued at $3,765,000 after purchasing an additional 3,489 shares during the period. Quantitative Investment Management LLC acquired a new stake in shares of Wix.com in the 1st quarter valued at about $353,000. Jump Financial LLC boosted its position in shares of Wix.com by 117.8% in the 1st quarter. Jump Financial LLC now owns 43,576 shares of the information services provider's stock valued at $7,119,000 after purchasing an additional 23,569 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Wix.com in the 1st quarter valued at about $82,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of Wix.com in a research report on Monday, August 18th. JPMorgan Chase & Co. decreased their price objective on Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Robert W. Baird raised Wix.com from a "neutral" rating to an "outperform" rating and decreased their price objective for the stock from $215.00 to $190.00 in a research report on Friday, May 23rd. Zacks Research raised Wix.com from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Baird R W raised Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $215.63.

Wix.com Price Performance

Shares of WIX stock traded up $2.21 during trading hours on Monday, reaching $141.08. 1,407,653 shares of the company's stock were exchanged, compared to its average volume of 1,695,481. The company has a market cap of $7.92 billion, a P/E ratio of 50.21, a price-to-earnings-growth ratio of 2.71 and a beta of 1.30. The company's 50 day moving average is $143.91 and its two-hundred day moving average is $160.82. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. As a group, analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has authorized a stock repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in 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 often a sign that the company's board of directors believes its stock is 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.