Robeco Institutional Asset Management B.V. Reduces Position in Wix.com Ltd. $WIX

Key Points

• Robeco Institutional Asset Management B.V. has reduced its stake in Wix.com Ltd. by 19.3%, now owning 112,100 shares worth approximately $17.76 million.
• Wix.com recently reported an EPS of $2.28 for the quarter, exceeding expectations, with a revenue of $489.93 million—a 12.4% increase year-over-year.
• Wix.com has announced a stock buyback program worth $200 million, signaling management's belief that the stock is undervalued, and received several positive ratings from analysts with an average price target of $215.37.

Robeco Institutional Asset Management B.V. decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,100 shares of the information services provider's stock after selling 26,849 shares during the period. Robeco Institutional Asset Management B.V. owned 0.20% of Wix.com worth $17,763,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wix.com by 63.5% in the 1st 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 period. Twin Tree Management LP purchased a new position in Wix.com during the 1st quarter worth $29,000. Geneos Wealth Management Inc. increased its stake in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock valued at $41,000 after purchasing an additional 215 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of 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 buying an additional 308 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Wix.com by 28.4% during the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider's stock worth $81,000 after buying an additional 109 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Price Performance

Wix.com stock opened at $151.77 on Friday. The stock's 50 day moving average price is $148.46 and its 200 day moving average price is $156.43. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The company has a market cap of $8.52 billion, a PE ratio of 54.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.32.

Wix.com (NASDAQ:WIX - Get Free Report) last released its 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 company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.Wix.com's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a stock 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 repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WIX. Royal Bank Of Canada restated an "outperform" rating and issued a $210.00 price target on shares of Wix.com in a research report on Tuesday, August 19th. Citigroup reissued an "outperform" rating on shares of Wix.com in a report on Tuesday, September 23rd. JMP Securities restated a "market outperform" rating and set a $210.00 price target on shares of Wix.com in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $173.00 to $216.00 in a research note on Monday, June 16th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $215.37.

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.

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