GC Wealth Management RIA LLC Purchases Shares of 2,631 Wix.com Ltd. $WIX

GC Wealth Management RIA LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,631 shares of the information services provider’s stock, valued at approximately $417,000.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Twin Tree Management LP acquired a new position in Wix.com during the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its stake 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 valued at $41,000 after purchasing an additional 215 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Wix.com by 183.3% during the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock valued at $78,000 after purchasing an additional 308 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Wix.com by 28.4% during the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock valued at $81,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

WIX has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Citigroup reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday, September 23rd. Barclays set a $235.00 price objective on shares of Wix.com and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Wix.com currently has a consensus rating of “Buy” and a consensus price target of $215.37.

Wix.com Stock Performance

WIX stock opened at $153.79 on Thursday. The firm has a market cap of $8.63 billion, a PE ratio of 54.73, a P/E/G ratio of 3.41 and a beta of 1.31. The firm’s fifty day moving average is $148.45 and its 200 day moving average is $156.80. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate 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 net margin of 8.90% and a negative return on equity of 136.43%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. Research analysts predict 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 stock buyback 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 buy up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wix.com 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.