Verdence Capital Advisors LLC acquired a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,024 shares of the information services provider's stock, valued at approximately $479,000.
Several other institutional investors have also added to or reduced their stakes in WIX. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com during the 1st quarter worth $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 buying an additional 215 shares in the last quarter. Blue Trust Inc. grew its position in Wix.com by 47.8% in the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in 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 acquiring an additional 308 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wix.com Stock Performance
Shares of NASDAQ WIX opened at $135.66 on Thursday. The company has a market capitalization of $7.61 billion, a P/E ratio of 48.28, a price-to-earnings-growth ratio of 2.57 and a beta of 1.32. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11. The company's 50 day moving average price is $148.68 and its 200-day moving average price is $154.70.
Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share 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 net margin of 8.90% and a negative return on equity of 136.43%. Wix.com's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. Analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current year.
Wix.com declared that its Board of Directors has initiated a share repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on WIX. Cfra Research upgraded shares of Wix.com from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. dropped their price target on Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Wix.com in a report on Wednesday, October 8th. Finally, Scotiabank set a $255.00 price objective on Wix.com and gave the company a "sector outperform" rating in a research note on Thursday, August 7th. Three 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $215.37.
Get Our Latest Research Report on WIX
About Wix.com
(
Free Report)
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.
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