DekaBank Deutsche Girozentrale Increases Holdings in Wix.com Ltd. $WIX

DekaBank Deutsche Girozentrale lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 261.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,459 shares of the information services provider’s stock after buying an additional 7,566 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Wix.com were worth $1,654,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WIX. Alliancebernstein L.P. grew its holdings in Wix.com by 115.8% during the 1st quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock valued at $91,528,000 after buying an additional 300,565 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in Wix.com during the first quarter worth $26,737,000. Durable Capital Partners LP increased its position in Wix.com by 38.7% during the first 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 in the last quarter. Goldman Sachs Group Inc. increased its position in Wix.com by 25.8% during the first 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 in the last quarter. Finally, Federated Hermes Inc. increased its position in Wix.com by 177.4% during the first quarter. Federated Hermes Inc. now owns 238,559 shares of the information services provider’s stock worth $38,976,000 after buying an additional 152,573 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank set a $255.00 price target on Wix.com and gave the stock a “sector outperform” rating in a research report on Thursday, August 7th. Wall Street Zen raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Wix.com in a research report on Friday. Cfra Research raised Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. reduced their price target on Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Wix.com presently has an average rating of “Buy” and an average price target of $215.37.

Wix.com Stock Up 0.5%

WIX stock opened at $140.91 on Friday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 2.63 and a beta of 1.32. The business has a fifty day simple moving average of $150.61 and a 200-day simple moving average of $153.73. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11.

Wix.com (NASDAQ:WIX) last released 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. As a group, analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its board has approved 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 purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is 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.