Quantitative Investment Management LLC bought a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,163 shares of the information services provider's stock, valued at approximately $353,000.
Several other institutional investors have also recently bought and sold shares of the stock. Dorsal Capital Management LP raised its position in Wix.com by 1.8% in the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock worth $305,734,000 after purchasing an additional 25,000 shares during the last quarter. Whale Rock Capital Management LLC increased its position in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock valued at $229,904,000 after buying an additional 380,800 shares in the last quarter. Man Group plc lifted its holdings in shares of Wix.com by 1.5% in the fourth quarter. Man Group plc now owns 643,651 shares of the information services provider's stock valued at $138,095,000 after purchasing an additional 9,706 shares in the last quarter. Dorsey Asset Management LLC grew its stake in shares of Wix.com by 4.5% during the 4th quarter. Dorsey Asset Management LLC now owns 578,741 shares of the information services provider's stock worth $124,169,000 after acquiring an additional 24,847 shares in the last quarter. Finally, Durable Capital Partners LP bought a new stake in Wix.com during the 4th quarter worth about $89,839,000. Institutional investors own 81.52% of the company's stock.
Wall Street Analyst Weigh In
WIX has been the subject of a number of research analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Wix.com in a report on Thursday, August 7th. Barclays set a $235.00 price target on shares of Wix.com and gave the company an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler decreased their target price 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $210.00 price target on shares of Wix.com in a report on Tuesday, August 19th. Finally, JMP Securities upped their price objective on shares of Wix.com from $160.00 to $200.00 and gave the company a "market outperform" rating in a report on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $215.63.
Read Our Latest Report on Wix.com
Wix.com Stock Performance
NASDAQ WIX traded up $2.49 on Thursday, hitting $138.87. The stock had a trading volume of 1,406,080 shares, compared to its average volume of 1,657,286. The firm has a 50-day moving average of $144.24 and a 200-day moving average of $162.35. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of 2.62 and a beta of 1.27. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11.
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, 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 firm 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 firm earned $1.67 EPS. The business's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.
Wix.com announced that its board has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
About Wix.com
(
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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