Deutsche Bank AG Has $19.42 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

Key Points

• Deutsche Bank AG increased its holdings in Wix.com Ltd. by 7.9%, owning 118,856 shares worth approximately $19.42 million as of its latest SEC filing.
• Wix.com reported an earnings per share (EPS) of $2.28 for the quarter, surpassing analyst expectations of $1.79 and showing a 12.4% year-over-year revenue growth.
• The company's Board of Directors has initiated a $200 million share buyback program, suggesting a belief that the stock is undervalued.

Deutsche Bank AG lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 118,856 shares of the information services provider's stock after purchasing an additional 8,703 shares during the period. Deutsche Bank AG owned 0.21% of Wix.com worth $19,419,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wix.com by 31.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock worth $830,000 after purchasing an additional 1,204 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Wix.com by 4.9% during the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after purchasing an additional 85 shares during the period. Janney Montgomery Scott LLC acquired a new position in Wix.com in the first quarter valued at $5,367,000. Envestnet Asset Management Inc. lifted its holdings in Wix.com by 27.1% in the first quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock valued at $5,747,000 after buying an additional 7,507 shares during the period. Finally, LPL Financial LLC lifted its holdings in Wix.com by 24.4% in the fourth quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock valued at $1,561,000 after buying an additional 1,429 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Price Performance

NASDAQ:WIX opened at $120.73 on Thursday. The firm has a 50-day moving average of $149.91 and a 200-day moving average of $170.14. The company has a market cap of $6.77 billion, a PE ratio of 42.96, a PEG ratio of 1.88 and a beta of 1.27. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $1.79 by $0.49. The company 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%. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, equities research 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 initiated a share buyback program 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 programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WIX shares. Baird R W upgraded shares of Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Bank of America dropped their target price on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Scotiabank set a $255.00 target price on shares of Wix.com and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Morgan Stanley dropped their target price on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $173.00 to $216.00 in a report on Monday, June 16th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $213.53.

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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