Wix.com Ltd. $WIX Position Increased by TD Asset Management Inc

TD Asset Management Inc increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,218 shares of the information services provider’s stock after purchasing an additional 161 shares during the period. TD Asset Management Inc’s holdings in Wix.com were worth $3,362,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 last quarter. Smartleaf Asset Management LLC grew its position in Wix.com by 8.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after purchasing an additional 79 shares during the last quarter. Signaturefd LLC grew its position in Wix.com by 3.3% in the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock worth $556,000 after purchasing an additional 109 shares during the last quarter. Advisors Asset Management Inc. grew its position in Wix.com by 28.4% in the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after purchasing an additional 109 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in Wix.com by 25.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock worth $95,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several recent analyst reports. Cfra Research upgraded shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, August 12th. Needham & Company LLC decreased their target price on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. JMP Securities reiterated a “market outperform” rating and issued a $210.00 price objective on shares of Wix.com in a report on Friday, October 3rd. Piper Sandler increased their price objective on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $215.37.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $137.58 on Tuesday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 2.44 and a beta of 1.32. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The company has a 50 day moving average price of $149.26 and a 200 day moving average price of $154.07.

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

Wix.com announced that its Board of Directors has authorized a share buyback program on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually 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.