Wellington Management Group LLP Has $176.59 Million Stock Holdings in Wix.com Ltd. $WIX

Key Points

• Wellington Management Group LLP reduced its stake in Wix.com by 28.4%, now holding approximately 1.93% of the company, valued at $176.59 million.
• Wix.com reported an earnings per share (EPS) of $2.28 for the most recent quarter, exceeding estimates and marking a 12.4% year-over-year revenue increase.
• The company's board has authorized a $200 million share repurchase program, indicating confidence in its stock value amid a market cap of $7.12 billion.

Wellington Management Group LLP decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,830 shares of the information services provider's stock after selling 429,685 shares during the period. Wellington Management Group LLP owned approximately 1.93% of Wix.com worth $176,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WIX. TD Private Client Wealth LLC grew its stake in shares of Wix.com by 183.3% in the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after acquiring an additional 308 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Wix.com in the 1st quarter valued at about $110,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Wix.com during the 1st quarter worth approximately $115,000. Versant Capital Management Inc grew its position in shares of Wix.com by 676.1% during the 1st quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after purchasing an additional 622 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Wix.com by 1,101.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the information services provider's stock worth $126,000 after purchasing an additional 705 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Citigroup reiterated an "outperform" rating on shares of Wix.com in a research report on Monday. Barclays set a $235.00 target price on Wix.com and gave the stock an "overweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Wix.com in a research note on Tuesday. Finally, Oppenheimer cut their price objective on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $215.63.

Wix.com Stock Up 0.2%

NASDAQ:WIX opened at $126.92 on Thursday. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The stock's 50-day simple moving average is $146.98 and its 200 day simple moving average is $166.16. The firm has a market capitalization of $7.12 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $487.62 million. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business's quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its board has authorized a share repurchase program 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 buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board 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.

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