ARK Investment Management LLC Buys 2,266 Shares of Wix.com Ltd. $WIX

ARK Investment Management LLC lifted its stake in Wix.com Ltd. (NASDAQ:WIX) by 28.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,290 shares of the information services provider’s stock after acquiring an additional 2,266 shares during the period. ARK Investment Management LLC’s holdings in Wix.com were worth $1,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WIX. Alliancebernstein L.P. increased its position in Wix.com by 115.8% in the 1st quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock worth $91,528,000 after buying an additional 300,565 shares during the period. Menora Mivtachim Holdings LTD. bought a new position in Wix.com in the 1st quarter worth approximately $26,737,000. Durable Capital Partners LP increased its position in Wix.com by 38.7% in the 1st quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock worth $94,892,000 after buying an additional 162,075 shares during the period. Goldman Sachs Group Inc. increased its position in Wix.com by 25.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after buying an additional 155,977 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Wix.com by 177.4% during 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 in the last quarter. 81.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on WIX shares. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Wix.com in a report on Tuesday, August 19th. Cfra Research raised Wix.com from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 12th. Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Wall Street Zen raised Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Barclays set a $235.00 price target on Wix.com and gave the company an “overweight” rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $215.37.

Wix.com Stock Performance

Wix.com stock opened at $135.58 on Thursday. The firm has a market cap of $7.61 billion, a P/E ratio of 48.25, a P/E/G ratio of 2.50 and a beta of 1.32. The business’s fifty day moving average is $149.88 and its two-hundred day moving average is $153.81. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11.

Wix.com (NASDAQ:WIX) last posted 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 for the quarter, compared to analyst estimates of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 earnings per share. On average, equities research analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com announced that its board has authorized a share repurchase program on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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.