SG Americas Securities LLC Increases Stake in Wix.com Ltd. $WIX

SG Americas Securities LLC lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 139.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 952,803 shares of the information services provider’s stock after buying an additional 555,305 shares during the quarter. SG Americas Securities LLC owned approximately 1.70% of Wix.com worth $98,987,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Wix.com by 34.8% in the 2nd quarter. Schroder Investment Management Group now owns 228,028 shares of the information services provider’s stock valued at $36,133,000 after purchasing an additional 58,859 shares during the last quarter. Mediolanum International Funds Ltd lifted its position in shares of Wix.com by 65.9% during the 3rd quarter. Mediolanum International Funds Ltd now owns 55,647 shares of the information services provider’s stock worth $10,054,000 after purchasing an additional 22,112 shares during the last quarter. Liontrust Investment Partners LLP purchased a new stake in shares of Wix.com during the 2nd quarter worth $3,708,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Wix.com during the third quarter worth $54,314,000. Finally, Principal Financial Group Inc. grew its stake in shares of Wix.com by 2.6% during the third quarter. Principal Financial Group Inc. now owns 948,263 shares of the information services provider’s stock worth $168,446,000 after purchasing an additional 23,836 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of analyst reports. Needham & Company LLC cut their price target on Wix.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group lowered their price objective on Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Benchmark dropped their price objective on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Piper Sandler began coverage on shares of Wix.com in a report on Thursday, March 12th. They set a “neutral” rating and a $98.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.90.

Wix.com Stock Up 1.2%

Shares of NASDAQ WIX opened at $89.46 on Tuesday. The stock has a market cap of $5.22 billion, a PE ratio of 110.44, a price-to-earnings-growth ratio of 2.90 and a beta of 1.40. Wix.com Ltd. has a 52-week low of $60.22 and a 52-week high of $191.24. The business has a 50-day moving average price of $80.58 and a 200 day moving average price of $111.89.

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

Wix.com announced that its board has approved a stock repurchase plan 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 plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.