Wix.com Ltd. $WIX Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 52.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030 shares of the information services provider’s stock after selling 1,144 shares during the quarter. Harbour Investments Inc.’s holdings in Wix.com were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wix.com Stock Performance

Shares of Wix.com stock opened at $135.58 on Thursday. The firm has a market cap of $7.61 billion, a PE ratio of 48.25, a price-to-earnings-growth ratio of 2.50 and a beta of 1.32. The firm’s 50-day simple moving average is $149.88 and its 200-day simple moving average is $153.81. 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 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. The business had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 EPS. On average, equities analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WIX. Citigroup reiterated an “outperform” rating on shares of Wix.com in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. Zacks Research upgraded shares of Wix.com from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Barclays set a $235.00 price objective on shares of Wix.com and gave the stock an “overweight” rating in a report on Thursday, August 7th. Three 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $215.37.

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.