Landscape Capital Management L.L.C. Buys New Shares in Wix.com Ltd. $WIX

Key Points

• Landscape Capital Management has invested approximately $940,000 in Wix.com, acquiring 5,754 shares during the first quarter.
• Wix.com reported earnings of $2.28 per share for the last quarter, exceeding analysts' expectations of $1.79, with revenue growth of 12.4% year-over-year.
• The company has initiated a $200 million share buyback program, signaling confidence in its stock's current valuation.

Landscape Capital Management L.L.C. acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,754 shares of the information services provider's stock, valued at approximately $940,000.

A number of other institutional investors also recently modified their holdings of the business. Dorsal Capital Management LP grew its stake in shares of Wix.com by 1.8% in the fourth quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock valued at $305,734,000 after acquiring an additional 25,000 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock valued at $229,904,000 after purchasing an additional 380,800 shares during the period. Man Group plc grew its position in shares of Wix.com by 1.5% during the 4th quarter. Man Group plc now owns 643,651 shares of the information services provider's stock worth $138,095,000 after purchasing an additional 9,706 shares in the last quarter. Dorsey Asset Management LLC increased its holdings in shares of Wix.com by 4.5% during the fourth quarter. Dorsey Asset Management LLC now owns 578,741 shares of the information services provider's stock worth $124,169,000 after purchasing an additional 24,847 shares during the period. Finally, Durable Capital Partners LP bought a new position in shares of Wix.com during the fourth quarter worth approximately $89,839,000. Institutional investors own 81.52% of the company's stock.

Wix.com Stock Up 1.6%

Shares of WIX stock traded up $2.21 during trading hours on Monday, hitting $141.08. 1,407,653 shares of the company's stock traded hands, compared to its average volume of 1,695,481. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11. The stock has a market cap of $7.92 billion, a PE ratio of 50.21, a price-to-earnings-growth ratio of 2.71 and a beta of 1.30. The stock's 50 day simple moving average is $143.56 and its 200 day simple moving average is $160.25.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. The business 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 was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. As a group, equities research analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of Wix.com in a research report on Monday, August 18th. Royal Bank Of Canada reissued an "outperform" rating and set a $210.00 target price on shares of Wix.com in a report on Tuesday, August 19th. Barclays set a $235.00 price target on Wix.com and gave the company an "overweight" rating in a research note on Thursday, August 7th. Bank of America reduced their price objective on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Baird R W upgraded shares of Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.