Elwood Capital Partners LP Increases Stake in Wix.com Ltd. $WIX

Elwood Capital Partners LP raised its position in Wix.com Ltd. (NASDAQ:WIX) by 79.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 40,033 shares of the information services provider’s stock after purchasing an additional 17,710 shares during the period. Wix.com accounts for approximately 4.3% of Elwood Capital Partners LP’s portfolio, making the stock its 5th largest position. Elwood Capital Partners LP owned 0.07% of Wix.com worth $7,111,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Westside Investment Management Inc. lifted its stake in Wix.com by 100.0% in the third 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 during the period. Geneos Wealth Management Inc. increased its position 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 valued at $41,000 after buying an additional 215 shares in the last quarter. MAI Capital Management grew its stake in Wix.com by 109.1% in 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 period. New Age Alpha Advisors LLC raised its position 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 worth $116,000 after purchasing an additional 345 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Wix.com by 508.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 651 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WIX. Morgan Stanley dropped their price target on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Benchmark reduced their target price on Wix.com from $185.00 to $140.00 and set a “buy” rating for the company in a report on Monday, March 2nd. B. Riley Financial restated a “buy” rating and set a $200.00 price target (down from $230.00) on shares of Wix.com in a research report on Thursday, November 20th. Oppenheimer lowered their price target on shares of Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Finally, Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Stock Up 1.4%

Shares of WIX opened at $88.09 on Friday. The business’s 50-day moving average price is $81.63 and its 200-day moving average price is $114.26. The stock 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. Wix.com Ltd. has a twelve month low of $60.22 and a twelve month high of $191.24.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results 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. 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 last year, the firm earned $2.10 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

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

About Wix.com

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.