Headlands Technologies LLC grew its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 268.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,787 shares of the information services provider's stock after purchasing an additional 2,760 shares during the quarter. Headlands Technologies LLC's holdings in Wix.com were worth $619,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in WIX. TD Private Client Wealth LLC grew its holdings in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after buying an additional 308 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Wix.com during the first quarter worth about $110,000. ASR Vermogensbeheer N.V. purchased a new position in shares of Wix.com during the first quarter worth about $115,000. Versant Capital Management Inc grew its holdings in shares of Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after buying an additional 622 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Wix.com by 44.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock worth $135,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.
Wix.com Trading Up 1.6%
Shares of NASDAQ:WIX traded up $1.90 during trading on Tuesday, hitting $117.33. 1,679,738 shares of the stock were exchanged, compared to its average volume of 952,579. The company has a fifty day moving average price of $151.25 and a two-hundred day moving average price of $170.86. The company has a market cap of $6.58 billion, a PE ratio of 41.75, a P/E/G ratio of 1.97 and a beta of 1.27. Wix.com Ltd. has a 12-month low of $114.89 and a 12-month high of $247.11.
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, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $487.62 million. During the same quarter in the prior year, the company earned $1.67 EPS. Wix.com's revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.
Wix.com announced that its board has initiated a share repurchase plan 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 reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
WIX has been the topic of a number of analyst reports. Wall Street Zen lowered Wix.com from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Benchmark lowered their price objective on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Oppenheimer lowered their price objective on Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada lowered their price objective on Wix.com from $245.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Buy" and an average price target of $213.53.
View Our Latest Stock Report on WIX
Wix.com Profile
(
Free Report)
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.
See Also
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access