41,048 Shares in Wix.com Ltd. $WIX Bought by Earnest Partners LLC

Earnest Partners LLC bought a new stake in Wix.com Ltd. (NASDAQ:WIX) during the third quarter, Holdings Channel reports. The firm bought 41,048 shares of the information services provider’s stock, valued at approximately $7,291,000.

Several other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after purchasing an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Wix.com by 90.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after purchasing an additional 1,609,989 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Wix.com during the 2nd quarter valued at approximately $342,485,000. Senvest Management LLC grew its holdings in Wix.com by 32.2% in the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock valued at $323,403,000 after buying an additional 496,770 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Wix.com by 27.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,542,153 shares of the information services provider’s stock valued at $244,368,000 after buying an additional 331,283 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

WIX has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Evercore dropped their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Zacks Research upgraded shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Oppenheimer reduced their price target on shares of Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Finally, Citizens Jmp decreased their price target on shares of Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $134.90.

Wix.com Trading Up 1.4%

NASDAQ WIX opened at $88.09 on Monday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 108.75, a PEG ratio of 2.83 and a beta of 1.40. The company has a 50 day moving average of $81.63 and a 200-day moving average of $114.11. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $191.24.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.36 by $0.45. The business had revenue of $524.27 million for the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.Wix.com’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. On average, analysts forecast 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 stock repurchase program on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to buy up to 40.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.