Investors Purchase Large Volume of Put Options on Wix.com (NASDAQ:WIX)

Wix.com Ltd. (NASDAQ:WIX) saw unusually large options trading on Monday. Stock traders acquired 8,761 put options on the stock. This represents an increase of 158% compared to the average volume of 3,392 put options.

Wix.com Trading Up 0.9%

Shares of WIX traded up $0.70 during trading hours on Monday, reaching $82.65. The stock had a trading volume of 1,032,513 shares, compared to its average volume of 2,583,167. The firm has a 50-day simple moving average of $81.27 and a 200 day simple moving average of $106.81. Wix.com has a 12 month low of $60.22 and a 12 month high of $191.24. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 102.06, a P/E/G ratio of 2.82 and a beta of 1.26.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.45. The company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $2.10 earnings per share. On average, equities analysts forecast that Wix.com will post 3.65 EPS for the current year.

Wix.com announced that its board has approved a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WIX. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of Wix.com in a research note on Wednesday, March 4th. Scotiabank dropped their target price on shares of Wix.com from $175.00 to $125.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 5th. Piper Sandler started coverage on shares of Wix.com in a research report on Thursday, March 12th. They set a “neutral” rating and a $98.00 price target on the stock. Oppenheimer decreased their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Finally, Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.70.

Institutional Investors Weigh In On Wix.com

Several large investors have recently made changes to their positions in WIX. Westside Investment Management Inc. increased its stake in shares of Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Wix.com during the fourth quarter valued at $27,000. Finally, National Bank of Canada FI purchased a new stake in Wix.com in the third quarter worth $54,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.