Wix.com Ltd. $WIX Shares Sold by Groupama Asset Managment

Groupama Asset Managment cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 55.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 400,000 shares of the information services provider’s stock after selling 500,000 shares during the quarter. Groupama Asset Managment’s holdings in Wix.com were worth $71,052,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Wix.com during the 3rd quarter valued at approximately $9,194,000. Danske Bank A S bought a new stake in shares of Wix.com in the third quarter worth $2,700,000. Lakehouse Capital Pty Ltd raised its holdings in Wix.com by 43.1% in the third quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock valued at $19,269,000 after acquiring an additional 32,686 shares in the last quarter. Armistice Capital LLC acquired a new stake in Wix.com in the third quarter valued at $912,000. Finally, Woodline Partners LP boosted its stake in Wix.com by 3,748.3% during the 3rd quarter. Woodline Partners LP now owns 133,920 shares of the information services provider’s stock valued at $23,788,000 after acquiring an additional 130,440 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

Wix.com stock opened at $90.43 on Thursday. The firm’s 50-day moving average is $80.93 and its 200-day moving average is $113.22. Wix.com Ltd. has a 1 year low of $60.22 and a 1 year high of $191.24. The company has a market cap of $5.27 billion, a P/E ratio of 111.64, a PEG ratio of 2.93 and a beta of 1.39.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 EPS. As a group, sell-side 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 authorized a share repurchase program 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 purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

WIX has been the subject of several recent analyst reports. Benchmark decreased their price objective on shares of Wix.com from $185.00 to $140.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Wells Fargo & Company reduced their price target on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Scotiabank decreased their price target on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 5th. Oppenheimer lowered their price objective on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Finally, UBS Group restated a “buy” rating and set a $145.00 price objective on shares of Wix.com in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.