Capital Fund Management S.A. Buys Shares of 13,665 Wix.com Ltd. $WIX

Key Points

• Capital Fund Management S.A. acquired 13,665 shares of Wix.com Ltd. for approximately $2.23 million during the first quarter of the year.
• Wix.com reported positive earnings results with an earnings per share of $2.28, surpassing estimates, and announced a $200 million share buyback plan, indicating confidence in its valuation.
• Institutional investors hold 81.52% of Wix.com's stock, with several firms, including Mirae Asset Global Investments, significantly increasing their stakes in the company.

Capital Fund Management S.A. bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,665 shares of the information services provider's stock, valued at approximately $2,233,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wix.com by 31.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,204 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Wix.com by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after buying an additional 85 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Wix.com in the 1st quarter worth $5,367,000. Envestnet Asset Management Inc. boosted its stake in shares of Wix.com by 27.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock worth $5,747,000 after buying an additional 7,507 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Wix.com by 148.8% in the 1st quarter. KBC Group NV now owns 1,513 shares of the information services provider's stock worth $247,000 after buying an additional 905 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

NASDAQ WIX opened at $131.82 on Monday. The company has a market capitalization of $7.40 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.53 and a beta of 1.27. The business's fifty day moving average is $146.07 and its 200 day moving average is $163.96. Wix.com Ltd. has a fifty-two week low of $114.89 and a fifty-two week high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.49. The company had revenue of $489.93 million for 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%.Wix.com's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 earnings per share. On average, sell-side analysts forecast that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its board has approved a share buyback plan on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Wix.com from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of Wix.com in a research note on Wednesday, June 18th. Cfra Research upgraded Wix.com from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 12th. Bank of America dropped their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Benchmark dropped their price target on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $215.63.

Wix.com 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.

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