50,664 Shares in Wix.com Ltd. $WIX Acquired by Clearline Capital LP

Clearline Capital LP bought a new stake in Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,664 shares of the information services provider’s stock, valued at approximately $8,999,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted 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 purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the period. MAI Capital Management increased its position in shares of Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after buying an additional 191 shares during the period. New Age Alpha Advisors LLC raised its stake in 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 worth $116,000 after buying an additional 345 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Wix.com by 508.6% during the second quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock worth $123,000 after buying an additional 651 shares during the last quarter. Institutional investors and hedge funds 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 firm has a market cap of $5.14 billion, a PE ratio of 108.75, a P/E/G ratio of 2.83 and a beta of 1.39. The company’s fifty day simple moving average is $81.63 and its 200 day simple moving average is $114.26. Wix.com Ltd. has a 12-month low of $60.22 and a 12-month high of $191.24.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The firm had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. During the same period in the previous year, the firm posted $2.10 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. On average, equities analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Benchmark decreased their price target on Wix.com from $185.00 to $140.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Bank of America dropped their price objective 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 cut 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 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price 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.