Yelin Lapidot Holdings Management Ltd. Increases Holdings in Wix.com Ltd. $WIX

Yelin Lapidot Holdings Management Ltd. boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,040 shares of the information services provider’s stock after purchasing an additional 650 shares during the quarter. Yelin Lapidot Holdings Management Ltd.’s holdings in Wix.com were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after buying an additional 66 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Wix.com by 8.9% during the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock valued at $161,000 after purchasing an additional 79 shares in the last quarter. Signaturefd LLC increased its holdings in Wix.com by 3.3% during the first quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock valued at $556,000 after buying an additional 109 shares during the period. Advisors Asset Management Inc. lifted its holdings in Wix.com by 28.4% during the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after buying an additional 109 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in Wix.com by 25.4% in the second quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock valued at $95,000 after purchasing an additional 121 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WIX. Piper Sandler boosted their target price on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Barclays set a $235.00 price target on Wix.com and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Citigroup restated an “outperform” rating on shares of Wix.com in a research note on Tuesday, September 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research note on Thursday, August 7th. Three research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $215.37.

Wix.com Stock Down 3.7%

Shares of WIX opened at $134.34 on Friday. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.60 and a beta of 1.31. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11. The stock’s 50-day moving average price is $152.11 and its 200-day moving average price is $152.41.

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 business had revenue of $489.93 million for the quarter, compared to analysts’ expectations of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. As a group, equities analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has authorized a share repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Wix.com

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.