Nordea Investment Management AB Has $2.02 Million Stake in Wix.com Ltd. $WIX

Key Points

• Nordea Investment Management AB increased its stake in Wix.com Ltd. by 45.8% during the second quarter, now holding shares valued at approximately $2.02 million.
• Major institutional investors such as Alliancebernstein L.P. and Goldman Sachs Group Inc. significantly boosted their holdings in Wix.com, indicating strong investor confidence.
• Wix.com reported an EPS of $2.28, exceeding estimates, while authorizing a $200 million share buyback program to indicate its shares may be undervalued.

Nordea Investment Management AB grew its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 45.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,653 shares of the information services provider's stock after purchasing an additional 3,973 shares during the quarter. Nordea Investment Management AB's holdings in Wix.com were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WIX. Alliancebernstein L.P. boosted its holdings in Wix.com by 115.8% in the first quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider's stock worth $91,528,000 after acquiring an additional 300,565 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in shares of Wix.com in the 1st quarter worth approximately $26,737,000. Durable Capital Partners LP boosted its position in Wix.com by 38.7% in the first quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider's stock worth $94,892,000 after purchasing an additional 162,075 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Wix.com by 25.8% during the first quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider's stock valued at $124,425,000 after buying an additional 155,977 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Wix.com by 177.4% during the 1st quarter. Federated Hermes Inc. now owns 238,559 shares of the information services provider's stock valued at $38,976,000 after acquiring an additional 152,573 shares during the period. 81.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WIX. Royal Bank Of Canada reiterated an "outperform" rating and set a $210.00 price target on shares of Wix.com in a research note on Tuesday, August 19th. Raymond James Financial restated a "strong-buy" rating on shares of Wix.com in a research report on Thursday, August 7th. Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Piper Sandler raised their price target on Wix.com from $206.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Finally, Needham & Company LLC decreased their price target on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $215.37.

Wix.com Trading Up 1.3%

NASDAQ:WIX opened at $135.58 on Thursday. The company has a 50-day moving average price of $149.88 and a 200-day moving average price of $153.81. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 48.25, a P/E/G ratio of 2.50 and a beta of 1.32. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. The firm had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. Equities analysts forecast 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 outstanding shares. This repurchase authorization allows the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board 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.

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