Earnest Partners LLC Purchases Shares of 41,048 Wix.com Ltd. $WIX

Earnest Partners LLC acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 41,048 shares of the information services provider’s stock, valued at approximately $7,291,000. Earnest Partners LLC owned approximately 0.07% of Wix.com as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Wix.com by 36.6% during the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 436 shares during the last quarter. Woodline Partners LP increased its stake in Wix.com by 9.7% in the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after purchasing an additional 202 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the period. Vise Technologies Inc. acquired a new stake in Wix.com during the 2nd quarter worth about $257,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Wix.com by 111.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,422 shares of the information services provider’s stock valued at $8,624,000 after buying an additional 28,654 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the topic of several analyst reports. Bank of America dropped their target price on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Benchmark lowered their price objective on shares of Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Citigroup reduced their target price on Wix.com from $150.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, March 5th. One research 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.90.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $88.09 on Monday. 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 1.40. The business has a 50-day moving average of $81.63 and a two-hundred day moving average of $114.11. Wix.com Ltd. has a fifty-two week low of $60.22 and a fifty-two week high of $191.24.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 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 business had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same quarter in the prior year, the firm posted $2.10 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, research analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has approved a share buyback plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is 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.