Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 1,648 Shares of Wix.com Ltd. $WIX

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Wix.com Ltd. (NASDAQ:WIX) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,797 shares of the information services provider’s stock after purchasing an additional 1,648 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Wix.com were worth $2,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its holdings in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock valued at $78,000 after acquiring an additional 308 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Wix.com by 44.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider’s stock valued at $135,000 after acquiring an additional 193 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Wix.com during the first quarter valued at $110,000. ASR Vermogensbeheer N.V. bought a new position in shares of Wix.com during the first quarter valued at $115,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 622 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Up 3.3%

Wix.com stock opened at $124.35 on Monday. The firm has a market capitalization of $6.98 billion, a P/E ratio of 44.25, a PEG ratio of 2.39 and a beta of 1.27. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11. The business has a 50-day moving average of $148.69 and a 200-day moving average of $167.48.

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

Wix.com declared that its board has authorized a stock buyback plan on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on WIX. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a report on Wednesday, June 18th. Bank of America cut their price objective on Wix.com from $270.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Raymond James Financial reissued a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. Oppenheimer cut their price target on Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC cut their price target on Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $213.53.

About Wix.com

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.