166,300 Shares in Wix.com Ltd. $WIX Acquired by Avala Global LP

Avala Global LP bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 166,300 shares of the information services provider’s stock, valued at approximately $29,540,000. Wix.com makes up approximately 1.2% of Avala Global LP’s investment portfolio, making the stock its 26th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of WIX. Westside Investment Management Inc. raised its stake in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after acquiring an additional 77 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% in 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. MAI Capital Management grew its holdings in shares of Wix.com by 109.1% during the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 191 shares during the last quarter. New Age Alpha Advisors LLC grew its holdings in shares of Wix.com by 100.0% during the 3rd quarter. New Age Alpha Advisors LLC now owns 690 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 345 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Wix.com by 508.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock worth $123,000 after purchasing an additional 651 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WIX has been the subject of several recent research reports. Wall Street Zen downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Bank of America decreased their price objective on Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Citigroup lowered their target price on Wix.com from $150.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Barclays dropped their target price on Wix.com from $205.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Finally, Jefferies Financial Group reduced their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Trading Up 1.4%

WIX stock opened at $88.09 on Friday. The firm’s 50-day moving average price is $81.63 and its two-hundred day moving average price is $114.26. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 108.75, a PEG ratio of 2.83 and a beta of 1.39.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.36 by $0.45. The firm 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 company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 earnings per share. Equities analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

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

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.