Diversified Trust Co Grows Stock Holdings in Wix.com Ltd. $WIX

Key Points

• Diversified Trust Co increased its investment in Wix.com Ltd. by 14.7%, bringing its total holdings to approximately $2.95 million in value.
• Wix.com reported $2.28 earnings per share for its last quarter, exceeding analysts' expectations of $1.79 and demonstrating a 12.4% revenue growth year-over-year.
• The company has initiated a $200 million stock buyback program, reflecting management's belief that its stock is undervalued.

Diversified Trust Co grew its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 14.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,618 shares of the information services provider's stock after purchasing an additional 2,380 shares during the quarter. Diversified Trust Co's holdings in Wix.com were worth $2,950,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Wix.com by 63.5% during 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 during the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com during the first quarter valued at about $29,000. Geneos Wealth Management Inc. raised its holdings 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 worth $41,000 after purchasing an additional 215 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Wix.com by 183.3% in the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Wix.com by 28.4% in the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider's stock worth $81,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WIX. B. Riley reaffirmed a "buy" rating and issued a $230.00 price objective (down from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Scotiabank set a $255.00 price objective on shares of Wix.com and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Finally, Cfra Research upgraded shares of Wix.com from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $215.63.

Wix.com Price Performance

Wix.com stock traded down $1.18 during trading hours on Friday, hitting $182.12. The stock had a trading volume of 1,915,467 shares, compared to its average volume of 2,163,703. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 64.81, a PEG ratio of 3.50 and a beta of 1.30. The stock's fifty day moving average is $144.76 and its two-hundred day moving average is $156.52.

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, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The firm had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same quarter in the previous year, the business earned $1.67 EPS. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its board has authorized a share repurchase program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.