Temasek Holdings Private Ltd Takes Position in Wix.com Ltd. $WIX

Temasek Holdings Private Ltd purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 414,997 shares of the information services provider’s stock, valued at approximately $73,716,000. Temasek Holdings Private Ltd owned about 0.74% of Wix.com at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WIX. Westside Investment Management Inc. lifted its holdings 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 valued at $27,000 after buying an additional 77 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Wix.com by 632.4% in 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 in the last quarter. MAI Capital Management grew its stake in Wix.com by 109.1% in the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after acquiring an additional 191 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Wix.com during the second quarter worth approximately $77,000. Finally, New Age Alpha Advisors LLC raised its stake in shares of Wix.com by 100.0% during the third quarter. New Age Alpha Advisors LLC now owns 690 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 1.4%

Shares of NASDAQ:WIX opened at $88.09 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 108.75, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. Wix.com Ltd. has a 52 week low of $60.22 and a 52 week high of $191.24. The firm has a 50 day moving average of $81.63 and a 200 day moving average of $114.38.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The company had revenue of $524.27 million during the quarter, compared to analyst estimates of $527.69 million. During the same quarter in the prior year, the business earned $2.10 earnings per share. Wix.com’s revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 40.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WIX shares. Barclays dropped their price objective on Wix.com from $205.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Citigroup lowered their target price on Wix.com from $150.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Royal Bank Of Canada dropped their price target on Wix.com from $155.00 to $112.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of Wix.com in a research note on Wednesday, March 4th. Finally, Scotiabank decreased their price objective on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com 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.