Portolan Capital Management LLC Makes New Investment in Wix.com Ltd. $WIX

Portolan Capital Management LLC acquired a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 95,809 shares of the information services provider’s stock, valued at approximately $17,019,000. Portolan Capital Management LLC owned approximately 0.17% of Wix.com at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. raised its holdings 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 valued at $27,000 after acquiring an additional 77 shares during the period. Geneos Wealth Management Inc. boosted its stake 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 worth $41,000 after purchasing an additional 215 shares during the period. MAI Capital Management grew its position in Wix.com by 109.1% during the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after purchasing an additional 191 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Wix.com during the 2nd quarter worth approximately $77,000. Finally, New Age Alpha Advisors LLC raised its stake in 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 period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on WIX. Citizens Jmp decreased their target price on Wix.com from $185.00 to $125.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd. Benchmark dropped their price target on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Evercore reduced their price objective on Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Scotiabank decreased their price objective on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 5th. Finally, Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Trading Up 1.4%

NASDAQ WIX opened at $88.09 on Friday. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $191.24. The company has a market capitalization of $5.14 billion, a PE ratio of 108.75, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. The firm’s fifty day simple moving average is $81.63 and its 200-day simple moving average is $114.38.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $527.69 million. During the same quarter last year, the firm earned $2.10 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its Board of Directors has approved a stock buyback 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 buy up to 40.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.