Acadian Asset Management LLC Has $345.03 Million Position in Wix.com Ltd. $WIX

Acadian Asset Management LLC lessened its position in Wix.com Ltd. (NASDAQ:WIX) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,112,076 shares of the information services provider’s stock after selling 5,759 shares during the period. Wix.com accounts for about 1.0% of Acadian Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Acadian Asset Management LLC’s holdings in Wix.com were worth $345,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 acquiring an additional 66 shares during the last quarter. Procyon Advisors LLC raised its holdings in Wix.com by 5.1% during the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider’s stock worth $226,000 after purchasing an additional 67 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Wix.com by 8.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after purchasing an additional 79 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Wix.com by 4.9% during the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock worth $299,000 after purchasing an additional 85 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in Wix.com by 1.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider’s stock worth $1,402,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Up 9.1%

WIX stock opened at $167.04 on Wednesday. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The stock’s 50 day moving average is $142.45 and its 200-day moving average is $157.97. The firm has a market capitalization of $9.37 billion, a PE ratio of 59.45, a P/E/G ratio of 2.94 and a beta of 1.30.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.49. The company had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup restated an “outperform” rating on shares of Wix.com in a report on Monday, August 18th. B. Riley reissued a “buy” rating and issued a $230.00 price objective (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. JMP Securities raised their price objective on Wix.com from $160.00 to $200.00 and gave the company a “market outperform” rating in a research note on Monday, August 18th. Benchmark reduced their price objective on Wix.com from $260.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Finally, Baird R W raised Wix.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wix.com currently has a consensus rating of “Buy” and a consensus price target of $215.63.

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.