31,399 Shares in Wix.com Ltd. $WIX Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new stake in Wix.com Ltd. (NASDAQ:WIXFree Report) during the third quarter, HoldingsChannel.com reports. The fund bought 31,399 shares of the information services provider’s stock, valued at approximately $5,576,000.

A number of other large investors have also recently bought and sold shares of WIX. Westside Investment Management Inc. grew its stake in shares of Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after acquiring an additional 77 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Wix.com by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock worth $3,524,000 after purchasing an additional 154 shares during the last quarter. Cerity Partners LLC grew its position in Wix.com by 13.4% in the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock valued at $235,000 after purchasing an additional 175 shares in the last quarter. MAI Capital Management grew its position in Wix.com by 109.1% in the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Wix.com by 32.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock valued at $141,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of recent research reports. Needham & Company LLC reduced their price objective on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of Wix.com in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, January 21st. Cantor Fitzgerald upped their price objective on Wix.com from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen raised Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $155.35.

View Our Latest Analysis on Wix.com

Wix.com News Roundup

Here are the key news stories impacting Wix.com this week:

Wix.com Trading Up 12.7%

WIX opened at $83.78 on Thursday. The stock’s fifty day simple moving average is $83.51 and its 200 day simple moving average is $116.16. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $197.85. The stock has a market cap of $4.70 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39.

Wix.com (NASDAQ:WIXGet Free Report) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.36 by $0.45. The firm had revenue of $524.27 million for the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a net margin of 7.20% and a negative return on equity of 102.59%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. Equities analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to buy up to 40.5% 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 Company Profile

(Free Report)

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.

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Institutional Ownership by Quarter for Wix.com (NASDAQ:WIX)

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