27,193 Shares in Wix.com Ltd. $WIX Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,193 shares of the information services provider’s stock, valued at approximately $4,443,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $28,000 after buying an additional 66 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock worth $78,000 after buying an additional 308 shares in the last quarter. SVB Wealth LLC purchased a new stake in Wix.com during the first quarter worth about $82,000. New Age Alpha Advisors LLC purchased a new stake in Wix.com during the first quarter worth about $110,000. Finally, ASR Vermogensbeheer N.V. purchased a new stake in Wix.com during the first quarter worth about $115,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of WIX opened at $138.87 on Friday. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 2.62 and a beta of 1.27. The company’s 50 day simple moving average is $144.24 and its 200 day simple moving average is $162.35. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Equities analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WIX shares. JPMorgan Chase & Co. decreased their price objective on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Piper Sandler reduced their price target on shares of Wix.com from $262.00 to $225.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Citigroup reaffirmed an “outperform” rating on shares of Wix.com in a report on Monday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, June 18th. Finally, UBS Group reduced their price target on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wix.com has an average rating of “Buy” and a consensus target price of $215.63.

Wix.com Company Profile

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.