Petrus Trust Company LTA purchased a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,567 shares of the information services provider's stock, valued at approximately $419,000.
Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock valued at $28,000 after acquiring an additional 66 shares during the last quarter. Twin Tree Management LP bought a new position in Wix.com in the first quarter valued at about $29,000. TD Private Client Wealth LLC boosted its holdings in Wix.com by 183.3% in the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after acquiring an additional 308 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider's stock valued at $81,000 after buying an additional 109 shares during the period. Finally, SVB Wealth LLC acquired a new position in Wix.com in the first quarter valued at about $82,000. Institutional investors own 81.52% of the company's stock.
Wix.com Trading Up 1.3%
Shares of NASDAQ WIX traded up $2.18 during mid-day trading on Friday, reaching $171.63. 2,007,338 shares of the company's stock were exchanged, compared to its average volume of 1,849,587. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 3.26 and a beta of 1.30. The business has a fifty day simple moving average of $142.69 and a 200 day simple moving average of $157.30. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11.
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, beating analysts' consensus estimates of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. During the same quarter last year, the firm earned $1.67 EPS. Wix.com's revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal 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 shares. This repurchase authorization authorizes the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
WIX has been the topic of several analyst reports. Benchmark cut their target price on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Bank of America cut their target price on Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. UBS Group cut their target price on Wix.com from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $210.00 target price on shares of Wix.com in a research note on Tuesday, August 19th. Finally, Barclays set a $235.00 target price on Wix.com and gave the company an "overweight" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of "Buy" and an average target price of $215.63.
View Our Latest Stock Analysis on WIX
Wix.com Company Profile
(
Free Report)
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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