Aberdeen Group plc Boosts Stock Position in Wix.com Ltd. $WIX

Aberdeen Group plc lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 24.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,991 shares of the information services provider’s stock after buying an additional 993 shares during the period. Aberdeen Group plc’s holdings in Wix.com were worth $791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. lifted its stake in Wix.com by 115.8% in the first quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock worth $91,528,000 after purchasing an additional 300,565 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in Wix.com in the first quarter worth $26,737,000. Durable Capital Partners LP increased its stake in shares of Wix.com by 38.7% in the 1st quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock worth $94,892,000 after acquiring an additional 162,075 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Wix.com by 25.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after acquiring an additional 155,977 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Wix.com by 177.4% during the 1st quarter. Federated Hermes Inc. now owns 238,559 shares of the information services provider’s stock valued at $38,976,000 after acquiring an additional 152,573 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WIX shares. JPMorgan Chase & Co. cut their target price on Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Scotiabank set a $255.00 price objective on Wix.com and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, October 8th. Finally, Citigroup reissued an “outperform” rating on shares of Wix.com in a report on Tuesday, September 23rd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wix.com has an average rating of “Buy” and an average target price of $215.37.

Wix.com Trading Down 1.2%

WIX opened at $130.82 on Friday. The firm has a market cap of $7.34 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.47 and a beta of 1.32. The stock has a 50-day moving average of $148.82 and a 200 day moving average of $154.25. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating 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 company 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 firm posted $1.67 EPS. Wix.com’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its board has initiated a share buyback plan on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are 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.