Thematics Asset Management Buys 3,489 Shares of Wix.com Ltd. $WIX

Key Points

• Thematics Asset Management increased its stake in Wix.com Ltd. by 17.8%, acquiring an additional 3,489 shares, bringing its total holdings to 23,042 shares valued at approximately $3.77 million.
• Wix.com reported earnings of $2.28 per share for the last quarter, surpassing consensus estimates by $0.49, with a revenue increase of 12.4% year-over-year.
• The company's Board of Directors has initiated a stock repurchase plan to buy back up to $200 million in shares, signaling confidence in the stock's value.

Thematics Asset Management lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 17.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,042 shares of the information services provider's stock after acquiring an additional 3,489 shares during the period. Thematics Asset Management's holdings in Wix.com were worth $3,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WIX. Durable Capital Partners LP bought a new stake in shares of Wix.com during the 4th quarter worth $89,839,000. Whale Rock Capital Management LLC lifted its stake in Wix.com by 55.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock worth $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Wix.com by 1,209.4% in the first quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider's stock worth $56,319,000 after purchasing an additional 318,387 shares during the last quarter. Two Sigma Investments LP lifted its stake in Wix.com by 93.8% in the fourth quarter. Two Sigma Investments LP now owns 345,389 shares of the information services provider's stock worth $74,103,000 after purchasing an additional 167,143 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. bought a new stake in Wix.com in the first quarter worth $26,737,000. 81.52% of the stock is owned by institutional investors.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $131.82 on Monday. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11. The company's 50-day moving average is $146.07 and its 200 day moving average is $163.96. The stock has a market capitalization of $7.40 billion, a P/E ratio of 46.91, a P/E/G ratio of 2.53 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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. Wix.com's quarterly revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com declared that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

WIX has been the subject of several recent research reports. Needham & Company LLC lowered their price target on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group lowered their price target on shares of Wix.com from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Oppenheimer lowered their price target on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup restated an "outperform" rating on shares of Wix.com in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $215.63.

Wix.com Company Profile

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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