Wix.com Ltd. $WIX Shares Bought by Diversified Trust Co

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 boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,618 shares of the information services provider's stock after acquiring an additional 2,380 shares during the period. Diversified Trust Co's holdings in Wix.com were worth $2,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $830,000 after acquiring an additional 1,204 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Wix.com by 5.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,720 shares of the information services provider's stock worth $5,185,000 after acquiring an additional 1,794 shares in the last quarter. Yousif Capital Management LLC boosted its holdings 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 valued at $299,000 after buying an additional 85 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Wix.com in the 1st quarter valued at $5,367,000. Finally, Goldman Sachs Group Inc. raised its stake in Wix.com by 25.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider's stock worth $124,425,000 after acquiring an additional 155,977 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Price Performance

Shares of WIX stock traded down $7.75 during trading hours on Tuesday, hitting $176.49. The stock had a trading volume of 439,737 shares, compared to its average volume of 1,104,991. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11. The stock's 50-day moving average price is $145.46 and its two-hundred day moving average price is $156.50. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.50 and a beta of 1.30.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.49. The company had revenue of $489.93 million for the quarter, compared to analysts' expectations of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.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. As a group, equities research analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has initiated a share repurchase program 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 repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WIX shares. Wells Fargo & Company upgraded Wix.com from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $173.00 to $216.00 in a research report on Monday, June 16th. Needham & Company LLC reduced their target price on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. B. Riley restated a "buy" rating and issued a $230.00 target price (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Cfra Research upgraded shares of Wix.com from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 12th. Finally, JMP Securities raised their target price on shares of Wix.com from $200.00 to $210.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Buy" and a consensus price target of $216.16.

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.