GDS Wealth Management Has $6.82 Million Stock Position in Wix.com Ltd. $WIX

Key Points

• GDS Wealth Management increased its stake in Wix.com Ltd. by 75.9% during the first quarter, owning 41,749 shares valued at approximately $6.82 million.
• Wix.com reported a quarterly earnings per share (EPS) of $2.28, surpassing analyst estimates by $0.49, with revenue up 12.4% year-over-year.
• The company has launched a $200 million stock repurchase plan, indicating management believes its stock is currently undervalued.

GDS Wealth Management grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 75.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,749 shares of the information services provider's stock after buying an additional 18,014 shares during the quarter. GDS Wealth Management owned 0.07% of Wix.com worth $6,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WIX. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 308 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Wix.com during the first quarter worth about $110,000. ASR Vermogensbeheer N.V. purchased a new position in Wix.com during the first quarter worth about $115,000. Versant Capital Management Inc boosted its holdings in Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after purchasing an additional 622 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Wix.com by 1,101.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the information services provider's stock worth $126,000 after purchasing an additional 705 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Down 1.7%

NASDAQ WIX opened at $126.62 on Wednesday. The company's 50 day moving average is $147.55 and its 200-day moving average is $166.43. Wix.com Ltd. has a 12-month low of $114.89 and a 12-month high of $247.11. The firm has a market cap of $7.10 billion, a P/E ratio of 45.06, a price-to-earnings-growth ratio of 2.47 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The company's quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its board has initiated a stock 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 buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WIX shares. Barclays set a $235.00 price target on shares of Wix.com and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Needham & Company LLC lowered their price objective on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler lowered their price objective on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $210.00 price objective on shares of Wix.com in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Wix.com has a consensus rating of "Buy" and a consensus price target of $215.63.

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.

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