Public Sector Pension Investment Board Grows Holdings in Wix.com Ltd. $WIX

Public Sector Pension Investment Board lifted its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,415 shares of the information services provider's stock after buying an additional 2,100 shares during the quarter. Public Sector Pension Investment Board's holdings in Wix.com were worth $4,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its stake in Wix.com by 183.3% in the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Wix.com by 44.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock worth $135,000 after purchasing an additional 193 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Wix.com in the 1st quarter worth about $110,000. ASR Vermogensbeheer N.V. bought a new position in Wix.com in the 1st quarter worth about $115,000. Finally, Versant Capital Management Inc boosted its stake in Wix.com by 676.1% in the 1st quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after purchasing an additional 622 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Up 3.3%

Shares of NASDAQ:WIX opened at $124.35 on Monday. The firm's 50 day moving average price is $148.69 and its 200-day moving average price is $167.48. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The stock has a market capitalization of $6.98 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $489.93 million for the quarter, compared to analysts' expectations of $487.62 million. During the same quarter in the prior year, the business earned $1.67 EPS. The business's quarterly revenue was up 12.4% on a year-over-year basis. Analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a stock 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 often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

WIX has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler dropped their price target on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Scotiabank set a $255.00 price target on shares of Wix.com and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, B. Riley restated a "buy" rating and set a $230.00 target price (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. One analyst has rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $213.53.

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.

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