UBS Group AG Has $73.34 Million Position in Wix.com Ltd. $WIX

Key Points

• UBS Group AG cut its position in Wix by 31.6%, selling 326,423 shares and finishing the quarter with 705,920 shares worth about $73.34 million (roughly 1.26% of the company).
• Wix beat quarterly EPS expectations ($1.81 vs. $1.36) with revenue up 13.9% year-over-year, and the board authorized a $2.0 billion share repurchase program covering up to 40.5% of outstanding shares, while valuation remains elevated (P/E ~99.5).
• Wall Street is broadly positive with an average rating of Moderate Buy and an average price target of $124.65, although several firms have recently trimmed their price targets.

UBS Group AG lowered its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 705,920 shares of the information services provider's stock after selling 326,423 shares during the quarter. UBS Group AG owned approximately 1.26% of Wix.com worth $73,338,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WIX. Farther Finance Advisors LLC raised its position in shares of Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider's stock valued at $25,000 after purchasing an additional 132 shares during the period. Westside Investment Management Inc. raised its position in shares of Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider's stock valued at $27,000 after purchasing an additional 77 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. raised its position in shares of Wix.com by 632.4% in 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 during the period. Finally, National Bank of Canada FI bought a new position in shares of Wix.com in the third quarter valued at about $54,000. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

WIX has been the topic of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price objective on shares of Wix.com in a research report on Thursday, March 5th. Bank of America dropped their price objective on shares of Wix.com from $136.00 to $109.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Jefferies Financial Group dropped their price objective on shares of Wix.com from $200.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Scotiabank dropped their price objective on shares of Wix.com from $175.00 to $125.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 5th. Finally, Robert W. Baird lowered shares of Wix.com from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $115.00 to $90.00 in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and an average price target of $124.65.

Wix.com Stock Performance

NASDAQ:WIX opened at $80.60 on Monday. Wix.com Ltd. has a 52 week low of $60.22 and a 52 week high of $191.24. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 99.51, a P/E/G ratio of 2.46 and a beta of 1.01. The firm's 50-day simple moving average is $79.57 and its 200 day simple moving average is $95.16.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The business had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same period last year, the firm earned $2.10 earnings per share. Wix.com's revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts anticipate that Wix.com Ltd. will post 1.57 EPS for the current year.

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