Nuveen LLC Purchases New Position in Wix.com Ltd. $WIX

Key Points

• Nuveen LLC has acquired a stake in Wix.com Ltd., purchasing 135,547 shares valued at approximately $22.1 million, which reflects an ownership of about 0.24% of the company.
• Institutional investors own 81.52% of Wix.com’s stock, with several large investors increasing their stakes significantly during the 1st quarter of the year.
• A recent earnings report showed that Wix.com outperformed estimates with $2.28 earnings per share, and the company announced a $200 million share repurchase plan signaling confidence in its valuation.

Nuveen LLC purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 135,547 shares of the information services provider's stock, valued at approximately $22,146,000. Nuveen LLC owned about 0.24% of Wix.com as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Procyon Advisors LLC raised its stake in shares of Wix.com by 5.1% during the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock worth $226,000 after purchasing an additional 67 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Wix.com by 4.9% during the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after purchasing an additional 85 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Wix.com by 1.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider's stock worth $1,402,000 after acquiring an additional 96 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Wix.com by 3.3% during the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider's stock worth $556,000 after acquiring an additional 109 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Wix.com by 9.9% during the 1st quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider's stock worth $255,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 81.52% of the company's stock.

Wix.com Price Performance

Shares of WIX stock traded down $0.12 on Thursday, reaching $126.80. 779,774 shares of the company were exchanged, compared to its average volume of 969,701. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 2.43 and a beta of 1.27. The company has a 50-day moving average of $146.98 and a 200-day moving average of $166.16. Wix.com Ltd. has a one year low of $114.89 and a one year 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. 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 prior year, the business posted $1.67 EPS. The firm's revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has authorized a share buyback plan on Monday, August 11th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on WIX. JMP Securities boosted their price target on Wix.com from $160.00 to $200.00 and gave the company a "market outperform" rating in a research note on Monday. Bank of America reduced their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $210.00 price objective on shares of Wix.com in a report on Tuesday. Oppenheimer decreased their price target on Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, B. Riley reiterated a "buy" rating and issued a $230.00 price target (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to 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.