Elwood Capital Partners LP Has $7.11 Million Stock Holdings in Wix.com Ltd. $WIX

Elwood Capital Partners LP boosted its position in Wix.com Ltd. (NASDAQ:WIX) by 79.3% during the third quarter, Holdings Channel reports. The fund owned 40,033 shares of the information services provider’s stock after acquiring an additional 17,710 shares during the period. Wix.com comprises 4.3% of Elwood Capital Partners LP’s holdings, making the stock its 5th biggest holding. Elwood Capital Partners LP’s holdings in Wix.com were worth $7,111,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Wix.com by 128.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after purchasing an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP grew its position in Wix.com by 90.4% during the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after acquiring an additional 1,609,989 shares during the last quarter. Lone Pine Capital LLC bought a new position in Wix.com during the second quarter valued at approximately $342,485,000. Senvest Management LLC lifted its holdings in shares of Wix.com by 32.2% in the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock worth $323,403,000 after acquiring an additional 496,770 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Wix.com by 27.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,542,153 shares of the information services provider’s stock valued at $244,368,000 after purchasing an additional 331,283 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of 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 stock has a market capitalization of $5.14 billion, a P/E ratio of 108.75, a P/E/G ratio of 2.83 and a beta of 1.39. The company’s 50-day moving average is $81.63 and its 200 day moving average is $114.26.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data 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. The business had revenue of $524.27 million for the quarter, compared to analysts’ expectations of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 EPS. Research analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WIX. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Wix.com in a report on Thursday, March 5th. Scotiabank lowered their price target on shares of Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a report on Thursday, March 5th. Evercore decreased their price objective on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Benchmark dropped their target price 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. Finally, Morgan Stanley reduced their price target on Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $134.90.

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.