Wealth High Governance Capital Ltda Purchases New Holdings in Wix.com Ltd. $WIX

Wealth High Governance Capital Ltda purchased a new position in Wix.com Ltd. (NASDAQ:WIX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,000 shares of the information services provider’s stock, valued at approximately $2,132,000.

A number of other large investors have also recently bought and sold shares of WIX. Westside Investment Management Inc. increased its position in shares of Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the period. MAI Capital Management lifted its position in Wix.com by 109.1% in the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after purchasing an additional 191 shares during the period. Penserra Capital Management LLC acquired a new position in Wix.com in the second quarter worth about $77,000. Finally, New Age Alpha Advisors LLC grew its position in Wix.com by 100.0% in the third 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 period. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Wix.com stock traded up $0.50 during mid-day trading on Friday, reaching $87.41. The company’s stock had a trading volume of 482,901 shares, compared to its average volume of 2,394,613. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24. The company has a market capitalization of $5.10 billion, a P/E ratio of 107.88, a PEG ratio of 1.93 and a beta of 1.39. The firm’s fifty day moving average price is $81.89 and its two-hundred day moving average price is $114.69.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $527.69 million. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 40.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Oppenheimer decreased their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Benchmark lowered their price target on shares of Wix.com from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Piper Sandler started coverage on shares of Wix.com in a research note on Thursday. They issued a “neutral” rating and a $98.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.90.

About Wix.com

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.