Wix.com Ltd. $WIX Position Boosted by Jump Financial LLC

Key Points

• Jump Financial LLC increased its holdings in Wix.com Ltd. by 117.8% in the first quarter, acquiring a total of 43,576 shares valued at approximately $7.12 million.
• Wix.com reported earnings per share (EPS) of $2.28 for the last quarter, surpassing the consensus estimate of $1.79, with revenue of $489.93 million, a year-over-year increase of 12.4%.
• The company's Board of Directors approved a $200 million stock buyback plan, indicating confidence in the company's valuation and allowing repurchase of up to 2.9% of its shares.

Jump Financial LLC increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 117.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,576 shares of the information services provider's stock after acquiring an additional 23,569 shares during the quarter. Jump Financial LLC owned approximately 0.08% of Wix.com worth $7,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WIX. SVB Wealth LLC acquired a new stake in shares of Wix.com in the first quarter valued at approximately $82,000. Smartleaf Asset Management LLC increased its stake in shares of Wix.com by 8.9% during the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider's stock valued at $161,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 acquiring an additional 66 shares during the period. Elwood Capital Partners LP boosted its holdings in Wix.com by 8.4% during the first quarter. Elwood Capital Partners LP now owns 16,241 shares of the information services provider's stock worth $2,653,000 after buying an additional 1,254 shares in the last quarter. Finally, Crescent Park Management L.P. boosted its holdings in Wix.com by 3.4% during the first quarter. Crescent Park Management L.P. now owns 76,405 shares of the information services provider's stock worth $12,483,000 after buying an additional 2,514 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Price Performance

NASDAQ WIX opened at $131.82 on Monday. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 46.91, a P/E/G ratio of 2.53 and a beta of 1.27. The company's fifty day moving average is $146.07 and its two-hundred day moving average is $163.96. Wix.com Ltd. has a 52-week low of $114.89 and a 52-week high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The firm had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. During the same period last year, the firm posted $1.67 EPS. The firm's quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect 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 stock buyback 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 reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Wix.com in a report on Wednesday, June 18th. Bank of America decreased their price objective on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $173.00 to $216.00 in a research note on Monday, June 16th. Benchmark cut their target price on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $215.63.

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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