Soros Capital Management LLC Takes $6.82 Million Position in Wix.com Ltd. $WIX

Soros Capital Management LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,750 shares of the information services provider’s stock, valued at approximately $6,821,000. Wix.com makes up 1.7% of Soros Capital Management LLC’s investment portfolio, making the stock its 18th largest position.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the period. TD Private Client Wealth LLC grew its stake 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 buying an additional 308 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Wix.com in the first quarter worth about $82,000. Tower Research Capital LLC TRC increased its holdings in shares of Wix.com by 44.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider’s stock worth $135,000 after buying an additional 193 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Wix.com in the 1st quarter valued at about $110,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WIX. Wells Fargo & Company raised Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $173.00 to $216.00 in a research note on Monday, June 16th. B. Riley restated a “buy” rating and issued a $230.00 target price (down previously from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Robert W. Baird upgraded shares of Wix.com from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $215.00 to $190.00 in a report on Friday, May 23rd. Oppenheimer cut their price target on shares of Wix.com from $250.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America lowered their price objective on shares of Wix.com from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $215.63.

Wix.com Trading Up 4.0%

NASDAQ:WIX opened at $131.82 on Monday. The company has a 50-day moving average price of $146.07 and a 200-day moving average price of $163.96. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 46.91, a P/E/G ratio of 2.53 and a beta of 1.27. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $487.62 million. During the same period last year, the business posted $1.67 earnings per share. Wix.com’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts forecast that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its board has approved a stock repurchase program 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 buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wix.com 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.