Portolan Capital Management LLC Acquires New Holdings in Wix.com Ltd. $WIX

Portolan Capital Management LLC bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 95,809 shares of the information services provider’s stock, valued at approximately $17,019,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings 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 valued at $41,000 after buying an additional 215 shares in the last quarter. MAI Capital Management raised its holdings in Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after buying an additional 191 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Wix.com in the second quarter worth about $77,000. Finally, New Age Alpha Advisors LLC increased its holdings in shares of Wix.com by 100.0% during the 3rd quarter. New Age Alpha Advisors LLC now owns 690 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 345 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Up 1.4%

Shares of WIX stock opened at $88.09 on Friday. Wix.com Ltd. has a 12 month low of $60.22 and a 12 month high of $191.24. The firm has a market cap of $5.14 billion, a PE ratio of 108.75, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. The stock has a 50 day moving average of $81.63 and a 200-day moving average of $114.38.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The business had revenue of $524.27 million for the quarter, compared to the consensus estimate of $527.69 million. During the same quarter last year, the company posted $2.10 earnings per share. Wix.com’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WIX. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $145.00 price target on shares of Wix.com in a research report on Friday, March 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Wix.com in a research note on Thursday, March 5th. B. Riley Financial reaffirmed a “buy” rating and set a $200.00 price objective (down from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Finally, Wells Fargo & Company lowered their target price on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.90.

Wix.com 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.