Sequoia Financial Advisors LLC Makes New Investment in Wix.com Ltd. $WIX

Sequoia Financial Advisors LLC acquired a new position in Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,368 shares of the information services provider’s stock, valued at approximately $217,000.

Several other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Wix.com by 8.9% in the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after purchasing an additional 79 shares during the last quarter. Signaturefd LLC lifted its stake in Wix.com by 3.3% in the first quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock worth $556,000 after purchasing an additional 109 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after purchasing an additional 109 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Wix.com by 25.4% during the second quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock valued at $95,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 3.5%

Shares of NASDAQ:WIX opened at $140.26 on Friday. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.53 and a beta of 1.32. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11. The firm has a 50 day moving average of $150.28 and a 200 day moving average of $153.76.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.49. The company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. Wix.com’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 earnings per share. On average, sell-side analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its board has initiated a stock buyback program on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WIX. Cfra Research raised Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Wall Street Zen raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Scotiabank set a $255.00 target price on Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Needham & Company LLC decreased their target price on Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group decreased their target price on Wix.com from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.