Wix.com Ltd. $WIX Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 6.8% in the 3rd quarter, Holdings Channel reports. The firm owned 320,085 shares of the information services provider’s stock after selling 23,380 shares during the quarter. First Trust Advisors LP’s holdings in Wix.com were worth $56,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of Wix.com by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after buying an additional 436 shares during the last quarter. Woodline Partners LP lifted its holdings in Wix.com by 9.7% in the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after acquiring an additional 202 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Wix.com by 32.2% in the second quarter. Envestnet Asset Management Inc. now owns 46,507 shares of the information services provider’s stock valued at $7,370,000 after acquiring an additional 11,330 shares during the period. Finally, Bank of Montreal Can boosted its stake in Wix.com by 22.8% in the second quarter. Bank of Montreal Can now owns 26,849 shares of the information services provider’s stock valued at $4,254,000 after acquiring an additional 4,982 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WIX. Benchmark dropped their price target on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Wells Fargo & Company reduced their price objective on Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Scotiabank lowered their price objective on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 5th. Robert W. Baird lowered Wix.com from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $115.00 to $90.00 in a research report on Monday. Finally, Needham & Company LLC reduced their price target on shares of Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and an average price target of $140.50.

Wix.com Trading Down 2.1%

Shares of NASDAQ WIX opened at $90.09 on Wednesday. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24. The company has a market cap of $5.25 billion, a PE ratio of 111.22, a P/E/G ratio of 1.98 and a beta of 1.39. The stock has a 50 day simple moving average of $82.51 and a 200-day simple moving average of $115.06.

Wix.com (NASDAQ:WIX) last posted its 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 firm had revenue of $524.27 million for the quarter, compared to analysts’ expectations of $527.69 million. During the same period last year, the firm earned $2.10 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Sell-side analysts forecast 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 buyback plan on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is 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.