SG Americas Securities LLC Raises Stake in Wix.com Ltd. $WIX

SG Americas Securities LLC raised its holdings in Wix.com Ltd. (NASDAQ:WIX) by 139.7% during the fourth quarter, HoldingsChannel reports. The firm owned 952,803 shares of the information services provider’s stock after buying an additional 555,305 shares during the period. SG Americas Securities LLC’s holdings in Wix.com were worth $98,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WIX. Ameriprise Financial Inc. boosted its stake in shares of Wix.com by 128.3% during the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after buying an additional 2,606,204 shares during the period. Lone Pine Capital LLC acquired a new position in Wix.com in the 2nd quarter valued at about $342,485,000. Wellington Management Group LLP increased its position in Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after acquiring an additional 1,609,989 shares during the period. Durable Capital Partners LP purchased a new stake in Wix.com during the 3rd quarter valued at approximately $183,286,000. Finally, Holocene Advisors LP purchased a new stake in Wix.com during the 3rd quarter valued at approximately $115,982,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Trading Up 1.2%

NASDAQ WIX opened at $89.46 on Tuesday. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 110.44, a PEG ratio of 2.90 and a beta of 1.40. The business’s 50 day moving average is $80.58 and its two-hundred day moving average is $111.89. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The business had revenue of $524.27 million during the quarter, compared to analysts’ expectations of $527.69 million. During the same period last year, the firm earned $2.10 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

WIX has been the topic of several analyst reports. UBS Group reiterated a “buy” rating and issued a $145.00 target price on shares of Wix.com in a research note on Friday, March 6th. Weiss Ratings cut Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Wix.com in a report on Thursday, March 5th. Wells Fargo & Company lowered their price objective on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Finally, Scotiabank dropped their price objective on shares of Wix.com from $175.00 to $125.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.90.

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.