Wealth High Governance Capital Ltda Purchases Shares of 12,000 Wix.com Ltd. $WIX

Wealth High Governance Capital Ltda bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the third quarter, Holdings Channel reports. The institutional investor bought 12,000 shares of the information services provider’s stock, valued at approximately $2,132,000.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. grew its position in 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 during the last quarter. Asset Management One Co. Ltd. raised its stake in Wix.com by 0.8% in 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 buying an additional 154 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Wix.com by 13.4% during the 2nd quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after acquiring an additional 175 shares during the period. MAI Capital Management raised its position in shares of Wix.com by 109.1% in the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after acquiring an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Wix.com by 32.7% during the third quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock valued at $141,000 after purchasing an additional 195 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler started coverage on Wix.com in a research report on Thursday. They set a “neutral” rating and a $98.00 price objective for the company. Bank of America dropped their price objective on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings cut Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Scotiabank cut their target price on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Stock Up 0.6%

WIX traded up $0.50 during trading hours on Friday, reaching $87.41. 482,901 shares of the company’s stock traded hands, compared to its average volume of 2,394,613. The firm has a market capitalization of $5.10 billion, a PE ratio of 107.88, a PEG ratio of 1.93 and a beta of 1.39. Wix.com Ltd. has a 52-week low of $60.22 and a 52-week high of $191.24. The firm has a 50-day moving average price of $81.89 and a 200 day moving average price of $114.69.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The business had revenue of $524.27 million for the quarter, compared to the consensus estimate of $527.69 million. During the same period in the prior year, the firm earned $2.10 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wix.com Profile

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.