Robeco Institutional Asset Management B.V. Trims Stake in Wix.com Ltd. $WIX

Key Points

• Robeco Institutional Asset Management cut its stake in Wix by 32.3% in Q4, selling 24,065 shares and now holding 50,387 shares (about 0.09% of the company) valued at roughly $5.24 million.
• Wix’s board authorized a $2.0 billion share buyback — equal to as much as 40.5% of shares outstanding — a sign management views the stock as undervalued.
• Analysts are mixed but the consensus is a "Moderate Buy" with an average target of $128.45, compared with the current share price near $68.70, while several firms have recently cut targets and ratings.

Robeco Institutional Asset Management B.V. reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 32.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,387 shares of the information services provider's stock after selling 24,065 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.09% of Wix.com worth $5,235,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. grew its stake in Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider's stock worth $27,000 after acquiring an additional 77 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% during 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 in the last quarter. National Bank of Canada FI bought a new position in shares of Wix.com during the third quarter valued at approximately $54,000. Finally, MAI Capital Management boosted its stake in shares of Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider's stock valued at $65,000 after purchasing an additional 191 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WIX shares. JPMorgan Chase & Co. downgraded shares of Wix.com from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $114.00 to $91.00 in a research note on Friday, March 27th. Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. Citigroup dropped their price objective on shares of Wix.com from $150.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Barclays lowered their target price on shares of Wix.com from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 target price on shares of Wix.com in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Wix.com currently has a consensus rating of "Moderate Buy" and an average target price of $128.45.

Wix.com Stock Down 2.1%

Shares of WIX opened at $68.70 on Friday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 84.81, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. Wix.com Ltd. has a twelve month low of $60.22 and a twelve month high of $191.24. The company has a 50 day moving average of $78.82 and a two-hundred day moving average of $101.02.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.45. The company had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. Wix.com's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $2.10 earnings per share. On average, sell-side analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has initiated a share buyback program on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information services provider to buy up to 40.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company's software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.

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