39,343 Shares in Wix.com Ltd. $WIX Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,343 shares of the information services provider’s stock, valued at approximately $4,087,000.

Other hedge funds and other institutional investors have also bought and sold shares of 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. Farther Finance Advisors LLC grew its position in Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Wix.com during the 4th quarter worth $27,000. Finally, National Bank of Canada FI bought a new stake in Wix.com during the 3rd quarter worth $54,000. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of research reports. Barclays reduced their price objective on Wix.com from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. downgraded Wix.com from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $114.00 to $91.00 in a report on Friday, March 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Wix.com in a report on Wednesday, March 4th. Wall Street Zen downgraded Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Benchmark cut their target price on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.40.

Wix.com Trading Up 2.1%

Shares of WIX opened at $77.11 on Wednesday. The company has a market capitalization of $4.50 billion, a PE ratio of 95.20, a PEG ratio of 2.60 and a beta of 1.26. Wix.com Ltd. has a 12 month low of $60.22 and a 12 month high of $191.24. The stock’s 50-day moving average price is $78.70 and its two-hundred day moving average price is $98.24.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping 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 negative return on equity of 70.04% and a net margin of 2.54%.The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. Equities research analysts predict that Wix.com Ltd. will post 1.39 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wix.com Company 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.