Janney Montgomery Scott LLC Sells 31,045 Shares of Wix.com Ltd. $WIX

Key Points

• Janney Montgomery Scott LLC has significantly reduced its stake in Wix.com Ltd. by 94.5%, selling 31,045 shares and now holding just 1,803 shares worth approximately $286,000.
• Shares of Wix.com saw a decline of 1.2%, opening at $130.82, while the company's stock is currently rated as a "Buy" with an average target price of $215.37 by analysts.
• Wix.com recently reported strong earnings with $2.28 EPS, which surpassed analysts' expectations, alongside a 12.4% year-over-year revenue increase of $489.93 million.

Janney Montgomery Scott LLC lowered its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 94.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,803 shares of the information services provider's stock after selling 31,045 shares during the quarter. Janney Montgomery Scott LLC's holdings in Wix.com were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GC Wealth Management RIA LLC bought a new stake in Wix.com in the second quarter valued at about $417,000. TD Private Client Wealth LLC increased its stake in Wix.com by 25.4% in the second quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider's stock valued at $95,000 after acquiring an additional 121 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Wix.com in the second quarter valued at about $339,000. Diversified Trust Co increased its stake in Wix.com by 14.7% in the second quarter. Diversified Trust Co now owns 18,618 shares of the information services provider's stock valued at $2,950,000 after acquiring an additional 2,380 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Wix.com by 22.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,842 shares of the information services provider's stock valued at $467,000 after acquiring an additional 528 shares during the period. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WIX shares. Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada restated an "outperform" rating and issued a $210.00 price target on shares of Wix.com in a research report on Tuesday, August 19th. Weiss Ratings restated a "hold (c)" rating on shares of Wix.com in a research report on Wednesday, October 8th. UBS Group reduced their price target on shares of Wix.com from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Citigroup restated an "outperform" rating on shares of Wix.com in a research report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $215.37.

Wix.com Trading Down 1.2%

Shares of WIX stock opened at $130.82 on Monday. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11. The firm's 50 day moving average is $148.82 and its 200-day moving average is $154.16. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.44 and a beta of 1.32.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business earned $1.67 earnings per share. Wix.com's quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts forecast 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 authorized a stock buyback 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 purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors 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.

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