Menora Mivtachim Holdings LTD. Makes New Investment in Wix.com Ltd. (NASDAQ:WIX)

Menora Mivtachim Holdings LTD. bought a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 163,647 shares of the information services provider’s stock, valued at approximately $26,737,000. Menora Mivtachim Holdings LTD. owned 0.29% of Wix.com at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. State of New Jersey Common Pension Fund D grew its position in shares of Wix.com by 9.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 24,405 shares of the information services provider’s stock valued at $3,987,000 after purchasing an additional 2,100 shares during the last quarter. Ethic Inc. lifted its stake in shares of Wix.com by 11.9% during the first quarter. Ethic Inc. now owns 8,522 shares of the information services provider’s stock valued at $1,398,000 after buying an additional 905 shares during the period. Aberdeen Group plc lifted its stake in shares of Wix.com by 15.3% during the first quarter. Aberdeen Group plc now owns 3,998 shares of the information services provider’s stock valued at $653,000 after buying an additional 530 shares during the period. Fox Run Management L.L.C. lifted its stake in shares of Wix.com by 651.9% during the first quarter. Fox Run Management L.L.C. now owns 7,128 shares of the information services provider’s stock valued at $1,165,000 after buying an additional 6,180 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Wix.com by 11.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,797 shares of the information services provider’s stock valued at $2,581,000 after buying an additional 1,648 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WIX has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price target on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Cfra Research raised shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Bank of America cut their target price on shares of Wix.com from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Scotiabank set a $255.00 target price on shares of Wix.com and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. Finally, Baird R W raised shares of Wix.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $213.53.

Wix.com Trading Up 3.3%

WIX stock opened at $124.35 on Friday. Wix.com Ltd. has a 52 week low of $114.89 and a 52 week high of $247.11. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.27. The firm’s 50-day moving average is $148.69 and its two-hundred day moving average is $168.51.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same period in the previous year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current year.

Wix.com declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.