US Bancorp DE Acquires 2,275 Shares of Wix.com Ltd. $WIX

Key Points

• US Bancorp DE increased its stake in Wix.com Ltd. by 16.4% during Q2, acquiring an additional 2,275 shares, bringing its total holdings to 16,106 shares valued at $2,552,000.
• Analysts have set new price targets for Wix.com, with Barclays leading at $235.00 and an average target of $215.37, reflecting a consensus rating of "Buy" among investment analysts.
• Wix.com reported a quarterly revenue of $489.93 million, exceeding expectations, along with a significant share repurchase program worth $200 million approved by its Board of Directors.

US Bancorp DE raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,106 shares of the information services provider's stock after acquiring an additional 2,275 shares during the quarter. US Bancorp DE's holdings in Wix.com were worth $2,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock valued at $28,000 after buying an additional 66 shares during the period. Twin Tree Management LP bought a new stake in Wix.com during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its holdings in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares during the period. TD Private Client Wealth LLC increased its holdings in Wix.com by 183.3% during the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after acquiring an additional 308 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Wix.com by 28.4% during the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider's stock worth $81,000 after acquiring an additional 109 shares during the period. Institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WIX. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday, June 18th. JMP Securities restated a "market outperform" rating and issued a $210.00 price objective on shares of Wix.com in a research report on Friday, October 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Wix.com in a report on Wednesday, October 8th. Piper Sandler increased their price target on shares of Wix.com from $206.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Finally, Barclays set a $235.00 price target on shares of Wix.com and gave the stock an "overweight" rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $215.37.

Wix.com Stock Performance

Shares of Wix.com stock opened at $138.03 on Wednesday. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 2.54 and a beta of 1.32. The company's 50 day moving average price is $148.53 and its 200-day moving average price is $154.83.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.49. The company had revenue of $489.93 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $1.67 earnings per share. As a group, equities research analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its Board of Directors has approved a share repurchase program on Monday, August 11th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

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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