Wix.com Ltd. $WIX Stock Position Decreased by Bayforest Capital Ltd

Bayforest Capital Ltd cut its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 53.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the information services provider’s stock after selling 691 shares during the period. Bayforest Capital Ltd’s holdings in Wix.com were worth $95,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wix.com by 63.5% during the 1st 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 last quarter. Twin Tree Management LP acquired a new position in shares of Wix.com during the 1st quarter valued at about $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Wix.com by 183.3% during the 1st 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 during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Down 1.2%

WIX opened at $130.82 on Friday. The firm has a market capitalization of $7.34 billion, a P/E ratio of 46.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The stock’s 50 day moving average price is $148.82 and its two-hundred day moving average price is $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 announced its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping 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 company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. During the same quarter last year, the company earned $1.67 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com announced that its Board of Directors has approved a share buyback program on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Wix.com in a report on Tuesday, August 19th. Raymond James Financial reissued a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. Barclays set a $235.00 target price on Wix.com and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $215.37.

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.