Soros Capital Management LLC Makes New $6.82 Million Investment in Wix.com Ltd. $WIX

Key Points

• Soros Capital Management LLC has made a new investment in Wix.com Ltd., purchasing 41,750 shares valued at approximately $6.82 million, which now represents 1.7% of their portfolio.
• Institutional investors currently own about 81.52% of Wix.com stock, with several hedge funds significantly increasing their stakes in the first quarter.
• Wix.com reported earnings per share of $2.28 for the last quarter, exceeding estimates, along with a 12.4% year-over-year revenue increase, and has a stock repurchase plan authorized for up to $200 million in outstanding shares.

Soros Capital Management LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,750 shares of the information services provider's stock, valued at approximately $6,821,000. Wix.com comprises 1.7% of Soros Capital Management LLC's portfolio, making the stock its 18th biggest position. Soros Capital Management LLC owned 0.07% of Wix.com at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake in 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 purchasing an additional 66 shares during the period. TD Private Client Wealth LLC grew its position in Wix.com by 183.3% during 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 period. SVB Wealth LLC bought a new position in Wix.com during the first quarter valued at about $82,000. New Age Alpha Advisors LLC purchased a new stake in Wix.com during the first quarter worth about $110,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in Wix.com in the first quarter worth about $115,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Scotiabank set a $255.00 target price on Wix.com and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday, June 18th. Needham & Company LLC decreased their price objective on Wix.com from $250.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, JMP Securities increased their target price on shares of Wix.com from $160.00 to $200.00 and gave the stock a "market outperform" rating in a research 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $215.63.

Wix.com Stock Up 4.0%

WIX stock opened at $131.82 on Monday. The stock has a 50-day simple moving average of $146.07 and a two-hundred day simple moving average of $163.96. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The firm has a market capitalization of $7.40 billion, a PE ratio of 46.91, a PEG ratio of 2.53 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share 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 business 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 posted $1.67 EPS. Wix.com's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its board has authorized a stock repurchase plan 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 reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership 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.

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