Blue Trust Inc. Purchases 132 Shares of Wix.com Ltd. $WIX

Blue Trust Inc. increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 47.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 408 shares of the information services provider’s stock after buying an additional 132 shares during the period. Blue Trust Inc.’s holdings in Wix.com were worth $65,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in 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 worth $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP bought a new position in Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. raised its stake in Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in 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 worth $78,000 after purchasing an additional 308 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after purchasing an additional 109 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of research reports. Raymond James Financial restated a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. JMP Securities restated a “market outperform” rating and issued a $210.00 price target on shares of Wix.com in a report on Friday, October 3rd. Needham & Company LLC reduced their price target on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Cfra Research upgraded shares of Wix.com from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, Piper Sandler raised 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. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Wix.com has an average rating of “Buy” and an average price target of $215.37.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $130.82 on Friday. The stock has a market capitalization 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 company has a 50-day moving average price of $148.82 and a 200-day moving average price of $154.25. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data 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. The firm had revenue of $489.93 million during the quarter, compared to analysts’ expectations of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. As a group, equities research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its board has authorized a stock repurchase program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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.