Nomura Holdings Inc. Sells 28,937 Shares of Wix.com Ltd. $WIX

Key Points

• Nomura Holdings Inc. has reduced its stake in Wix.com Ltd. by 77.7%, selling 28,937 shares and now holding only 8,324 shares worth $1.36 million.
• Wix.com reported better-than-expected quarterly earnings with an EPS of $2.28, exceeding analyst estimates of $1.79, and a revenue increase of 12.4% year-over-year.
• The board of Wix.com has authorized a $200 million share buyback program, indicating a belief that the company's shares are undervalued.

Nomura Holdings Inc. reduced its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 77.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,324 shares of the information services provider's stock after selling 28,937 shares during the period. Nomura Holdings Inc.'s holdings in Wix.com were worth $1,360,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wix.com by 31.8% in 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 buying an additional 1,204 shares during the last quarter. Yousif Capital Management LLC increased 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 worth $299,000 after buying an additional 85 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Wix.com in the 1st quarter worth about $5,367,000. Envestnet Asset Management Inc. increased its holdings in shares of Wix.com by 27.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock worth $5,747,000 after buying an additional 7,507 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Wix.com by 148.8% in the 1st quarter. KBC Group NV now owns 1,513 shares of the information services provider's stock worth $247,000 after buying an additional 905 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on WIX shares. Zacks Research raised shares of Wix.com from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Citigroup reaffirmed an "outperform" rating on shares of Wix.com in a research note on Monday, August 18th. B. Riley reaffirmed a "buy" rating and set a $230.00 price target (down from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Robert W. Baird raised shares of Wix.com from a "neutral" rating to an "outperform" rating and dropped their price target for the stock from $215.00 to $190.00 in a research note on Friday, May 23rd. Finally, UBS Group dropped their price target on shares of Wix.com from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $215.63.

Wix.com Stock Performance

Shares of WIX opened at $137.33 on Wednesday. The company has a 50 day moving average price of $143.08 and a 200-day moving average price of $160.09. Wix.com Ltd. has a fifty-two week low of $114.89 and a fifty-two week high of $247.11. The stock has a market capitalization of $7.71 billion, a PE ratio of 48.87, a PEG ratio of 2.71 and a beta of 1.30.

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

Wix.com announced that its board has authorized a share buyback program 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 reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.