Huntington National Bank Has $158,000 Position in Wix.com Ltd. $WIX

Huntington National Bank raised its stake in Wix.com Ltd. (NASDAQ:WIX) by 299.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 999 shares of the information services provider’s stock after buying an additional 749 shares during the period. Huntington National Bank’s holdings in Wix.com were worth $158,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $28,000 after acquiring an additional 66 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of Wix.com in the 1st quarter worth approximately $29,000. 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 valued at $41,000 after buying an additional 215 shares during the period. Blue Trust Inc. boosted its position in Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in Wix.com by 183.3% during the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock worth $78,000 after acquiring an additional 308 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. UBS Group cut their price target on Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Wix.com in a research report on Thursday, August 7th. Finally, Cfra Research upgraded shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Three equities research 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. According to MarketBeat, Wix.com currently has an average rating of “Buy” and an average target price of $215.37.

Wix.com Stock Down 0.3%

Shares of WIX opened at $135.93 on Friday. The business’s fifty day moving average is $152.00 and its 200 day moving average is $152.34. Wix.com Ltd. has a 12-month low of $114.89 and a 12-month high of $247.11. The stock has a market cap of $7.63 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.54 and a beta of 1.31.

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

Wix.com announced that its board has authorized a share buyback program on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.