Huntington National Bank Increases Stock Holdings in Wix.com Ltd. $WIX

Huntington National Bank increased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 299.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 999 shares of the information services provider’s stock after acquiring an additional 749 shares during the quarter. Huntington National Bank’s holdings in Wix.com were worth $158,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in Wix.com by 27.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider’s stock worth $5,747,000 after acquiring an additional 7,507 shares during the last quarter. TD Private Client Wealth LLC lifted its position 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 purchasing an additional 308 shares in the last quarter. MQS Management LLC purchased a new position in Wix.com during the first quarter worth about $249,000. 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 in the last quarter. Finally, Jennison Associates LLC increased its stake in Wix.com by 20.3% in the 1st quarter. Jennison Associates LLC now owns 5,458 shares of the information services provider’s stock valued at $892,000 after buying an additional 920 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Price Performance

NASDAQ:WIX opened at $135.93 on Friday. The company has a market capitalization of $7.63 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.54 and a beta of 1.31. The business has a fifty day simple moving average of $152.00 and a two-hundred day simple moving average of $152.34. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11.

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

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

Wall Street Analyst Weigh In

WIX has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Scotiabank set a $255.00 price target on Wix.com and gave the stock a “sector outperform” rating in a report on Thursday, August 7th. Wall Street Zen downgraded Wix.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Wix.com currently has an average rating of “Buy” and a consensus price target of $215.37.

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.