Grandeur Peak Global Advisors LLC has increased its investment in Wix.com Ltd. by 19.7%, raising its stake to a total value of $584,000. This adjustment was disclosed in the firm’s latest filing with the Securities & Exchange Commission. Following the acquisition of an additional 606 shares, Grandeur Peak now holds 3,683 shares of the web development platform.
The investment landscape surrounding Wix.com has seen similar activity from other institutional investors. For instance, Northwestern Mutual Wealth Management Co. boosted its holdings by 63.5% in the first quarter, now owning 170 shares valued at approximately $28,000 after purchasing an additional 66 shares. Additionally, Smartleaf Asset Management LLC raised its position by 8.9%, acquiring a total of 966 shares worth around $161,000, while Advisors Asset Management Inc. increased its stake by 28.4%, holding 493 shares valued at $81,000.
Other notable movements include TD Private Client Wealth LLC, which lifted its investment by 25.4% during the second quarter, now holding 597 shares worth $95,000, and Blue Trust Inc., which raised its position by 47.8%, owning 408 shares valued at $65,000 after buying 132 additional shares. Overall, institutional investors now control approximately 81.52% of Wix.com’s stock.
Analyst Ratings and Market Performance
Wix.com has garnered a range of ratings from analysts. Raymond James Financial reaffirmed a “strong-buy” rating on August 7. Meanwhile, Royal Bank of Canada revised its price target from $210.00 to $190.00, maintaining an “outperform” rating. Similarly, Morgan Stanley adjusted its target from $200.00 to $181.00, while Citizens JMP cut its target from $210.00 to $185.00, also assigning a “market outperform” rating.
According to data from MarketBeat, the stock has an average rating of “Moderate Buy,” with a consensus target price of $179.81. Currently, two analysts rate the stock as a Strong Buy, nineteen as Buy, and three as Hold.
On November 10, Wix.com’s stock opened at $95.90, with a one-year low of $92.23 and a high of $247.11. With a market capitalization of $5.38 billion, the company has a price-to-earnings (P/E) ratio of 40.98, a P/E/G ratio of 1.82, and a beta of 1.31. The company’s 50-day simple moving average stands at $136.57, while the 200-day average is $146.29.
Stock Repurchase Program
In a strategic move, Wix.com announced on August 11 that its Board of Directors approved a stock repurchase program, allowing the company to buy back up to $200 million of its outstanding shares. This program enables Wix.com to reacquire up to 2.9% of its shares through open market purchases. Such initiatives often indicate that company leadership believes the stock is undervalued.
Wix.com Ltd., along with its subsidiaries, provides a cloud-based web development platform for users and creators globally. The company offers tools such as the Wix Editor, which features a drag-and-drop interface for website development, and Wix ADI, a service that allows users to customize their websites with ease.
As the company continues to navigate the evolving digital landscape, its recent financial maneuvers and strong analyst endorsements signal confidence in its future trajectory.
