Strs Ohio Trims Stock Holdings in Wix.com Ltd. $WIX

Strs Ohio lowered its holdings in Wix.com Ltd. (NASDAQ:WIX) by 6.9% in the second quarter, HoldingsChannel reports. The firm owned 87,251 shares of the information services provider’s stock after selling 6,498 shares during the period. Strs Ohio’s holdings in Wix.com were worth $13,826,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of Wix.com by 115.8% in 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 during the last quarter. Menora Mivtachim Holdings LTD. acquired a new position in Wix.com in the first quarter worth $26,737,000. Durable Capital Partners LP increased its stake in Wix.com by 38.7% during the first quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock valued at $94,892,000 after purchasing an additional 162,075 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Wix.com by 25.8% during the first quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after purchasing an additional 155,977 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of 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 during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $145.54 on Friday. The stock has a fifty day moving average price of $151.73 and a two-hundred day moving average price of $152.94. The firm has a market cap of $8.17 billion, a P/E ratio of 51.79, a PEG ratio of 2.71 and a beta of 1.32. 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 quarterly 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 firm had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, research analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has initiated a share repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WIX shares. UBS Group lowered their price objective on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and set a $210.00 price objective on shares of Wix.com in a research note on Friday, October 3rd. Finally, Barclays set a $235.00 price objective on Wix.com and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of “Buy” and a consensus 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.