Quantbot Technologies LP Has $6.63 Million Holdings in Wix.com Ltd. $WIX

Key Points

• Quantbot Technologies LP increased its position in Wix.com, owning approximately $6.63 million worth of shares after a 15.7% increase during the first quarter.
• Wix.com reported a quarterly earnings per share (EPS) of $2.28, surpassing analysts' expectations of $1.79, and experienced a 12.4% revenue growth year-over-year.
• The company has initiated a $200 million share repurchase program, indicating that its board believes its stock may be undervalued.

Quantbot Technologies LP grew its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,591 shares of the information services provider's stock after acquiring an additional 5,504 shares during the quarter. Quantbot Technologies LP owned about 0.07% of Wix.com worth $6,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Procyon Advisors LLC increased its holdings in shares of Wix.com by 5.1% during the first quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after acquiring an additional 67 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Wix.com by 4.9% during the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock valued at $299,000 after acquiring 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 fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider's stock valued at $1,402,000 after acquiring an additional 96 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Wix.com by 3.3% during the first quarter. Signaturefd LLC now owns 3,402 shares of the information services provider's stock valued at $556,000 after acquiring an additional 109 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Wix.com by 9.9% during the first quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider's stock valued at $255,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price objective on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Raymond James Financial reiterated a "strong-buy" rating on shares of Wix.com in a report on Thursday, August 7th. JMP Securities upped their price target on Wix.com from $160.00 to $200.00 and gave the stock a "market outperform" rating in a report on Monday. Scotiabank set a $255.00 price target on Wix.com and gave the stock a "sector outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Wix.com from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $215.63.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $128.77 on Tuesday. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11. The business's fifty day moving average price is $148.19 and its 200-day moving average price is $166.71. The stock has a market capitalization of $7.23 billion, a PE ratio of 45.83, a P/E/G ratio of 2.39 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.49. The firm had revenue of $489.93 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 EPS. As a group, equities analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its Board of Directors has initiated a share repurchase program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

About Wix.com

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.