Temasek Holdings Private Ltd Makes New Investment in Wix.com Ltd. $WIX

Temasek Holdings Private Ltd purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the 3rd quarter, HoldingsChannel reports. The fund purchased 414,997 shares of the information services provider’s stock, valued at approximately $73,716,000.

A number of other institutional investors have also modified their holdings of WIX. Westside Investment Management Inc. grew its position in shares of Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of 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 in the last quarter. MAI Capital Management lifted its position in Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after acquiring an additional 191 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Wix.com during the second quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC boosted its stake in Wix.com by 100.0% in 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. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Up 1.4%

Shares of Wix.com stock opened at $88.09 on Friday. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 108.75, a PEG ratio of 2.79 and a beta of 1.39. The firm’s 50 day simple moving average is $81.63 and its two-hundred day simple moving average is $114.38.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data 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 business had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. On average, sell-side analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its Board of Directors has approved a share buyback program on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WIX has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Wells Fargo & Company decreased their price objective on Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. UBS Group reissued a “buy” rating and issued a $145.00 price objective on shares of Wix.com in a research report on Friday, March 6th. Bank of America dropped their target price on Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada reduced their target price 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.90.

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.