Wix.com Ltd. $WIX Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in Wix.com by 53.9% during the 1st quarter, owning approximately 0.28% of the company, valued at about $25.6 million.
• Wix.com posted $2.28 EPS for its latest quarter, beating analyst estimates by $0.49, with revenue up 12.4% year-over-year to $489.93 million.
• The company authorized a $200 million share repurchase plan, indicating confidence from leadership that its shares are currently undervalued.

Trexquant Investment LP increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 53.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,707 shares of the information services provider's stock after buying an additional 54,890 shares during the period. Trexquant Investment LP owned about 0.28% of Wix.com worth $25,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wix.com by 31.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,204 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Wix.com by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock valued at $299,000 after purchasing an additional 85 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Wix.com in the 1st quarter valued at $5,367,000. Envestnet Asset Management Inc. lifted its holdings in Wix.com by 27.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock valued at $5,747,000 after purchasing an additional 7,507 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Wix.com by 148.8% in the 1st quarter. KBC Group NV now owns 1,513 shares of the information services provider's stock valued at $247,000 after purchasing an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WIX. Wells Fargo & Company upgraded Wix.com from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $173.00 to $216.00 in a report on Monday, June 16th. Needham & Company LLC decreased their price objective on Wix.com from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen lowered Wix.com from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. UBS Group reduced their price target on Wix.com from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, JMP Securities lifted their price target on Wix.com from $160.00 to $200.00 and gave the stock a "market outperform" rating in a report on Monday, August 18th. Three 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $215.63.

Wix.com Stock Up 1.6%

NASDAQ WIX traded up $2.21 during trading on Monday, hitting $141.08. The stock had a trading volume of 1,407,653 shares, compared to its average volume of 1,695,481. The company has a market capitalization of $7.92 billion, a PE ratio of 50.21, a PEG ratio of 2.71 and a beta of 1.30. The firm has a 50 day moving average price of $143.91 and a 200 day moving average price of $160.82. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. On average, sell-side analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com declared that its board has authorized a stock repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wix.com 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.