Aberdeen Group plc Raises Stock Position in Wix.com Ltd. $WIX

Aberdeen Group plc increased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,991 shares of the information services provider’s stock after acquiring an additional 993 shares during the quarter. Aberdeen Group plc’s holdings in Wix.com were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in Wix.com by 115.8% during the first 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 1st quarter worth approximately $26,737,000. Durable Capital Partners LP grew its position in Wix.com by 38.7% during the 1st quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock worth $94,892,000 after purchasing an additional 162,075 shares during the period. Goldman Sachs Group Inc. grew its position in 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 valued at $124,425,000 after buying an additional 155,977 shares during the period. Finally, Federated Hermes Inc. raised its holdings in 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 purchasing an additional 152,573 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

WIX opened at $130.82 on Friday. The stock’s 50 day simple moving average is $148.82 and its 200 day simple moving average is $154.25. The stock has a market cap of $7.34 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.47 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 released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. The business had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 earnings per share. Research analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a share repurchase program on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WIX has been the subject of several research reports. Needham & Company LLC cut their price objective on Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. Barclays set a $235.00 price target on shares of Wix.com and gave the stock an “overweight” rating in a research note on Thursday, August 7th. UBS Group cut their price objective on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Wix.com in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $215.37.

Wix.com Company 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.