Strs Ohio Purchases Shares of 93,749 Wix.com Ltd. $WIX

Key Points

• Strs Ohio purchased a stake of 93,749 shares in Wix.com Ltd., valued at approximately $15.3 million, representing about 0.17% ownership in the company as per its latest SEC filing.
• Several institutional investors have significantly increased their holdings in Wix.com, with Whale Rock Capital Management raising their stake by 55.1% in the last quarter, totaling over $229 million in shares.
• Wix.com reported a Q2 EPS of $2.28, exceeding estimates by $0.49, and announced a $200 million stock buyback program, indicating confidence in its valuation.

Strs Ohio purchased a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 93,749 shares of the information services provider's stock, valued at approximately $15,317,000. Strs Ohio owned about 0.17% of Wix.com as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WIX. Whale Rock Capital Management LLC raised its holdings in 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 acquiring an additional 380,800 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Wix.com by 1,209.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider's stock worth $56,319,000 after buying an additional 318,387 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Wix.com by 115.8% during the 1st quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider's stock worth $91,528,000 after buying an additional 300,565 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Wix.com by 93.8% during the 4th quarter. Two Sigma Investments LP now owns 345,389 shares of the information services provider's stock worth $74,103,000 after buying an additional 167,143 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in shares of Wix.com during the 1st quarter worth $26,737,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the subject of a number of research analyst reports. UBS Group dropped their price objective on Wix.com from $230.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. B. Riley restated a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Cfra Research upgraded Wix.com from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 12th. Robert W. Baird raised shares of Wix.com from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $215.00 to $190.00 in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday, June 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's stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Buy" and an average price target of $215.63.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $171.63 on Friday. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 3.26 and a beta of 1.30. The stock's 50 day moving average price is $142.69 and its 200 day moving average price is $157.30.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The firm had revenue of $489.93 million for the quarter, compared to analysts' expectations of $487.62 million. During the same quarter in the previous year, the company earned $1.67 earnings per share. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its Board of Directors has approved a stock buyback program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are 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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