Wix Announces Completion of $200 Million Share Repurchase Program
Wix (NASDAQ: WIX) has announced the completion of its $200 million share repurchase program that was authorized by its Board of Directors in July 2024. The company has repurchased 868,026 ordinary shares, which represents approximately 1.5% of total outstanding shares. The repurchase was executed at a volume-weighted average price of $230.41 per share.
Wix (NASDAQ: WIX) ha annunciato il completamento del suo programma di riacquisto di azioni da 200 milioni di dollari autorizzato dal Consiglio di Amministrazione a luglio 2024. L'azienda ha riacquistato 868.026 azioni ordinarie, che rappresentano circa l'1,5% delle azioni totali in circolazione. Il riacquisto è stato effettuato a un prezzo medio ponderato per il volume di 230,41 dollari per azione.
Wix (NASDAQ: WIX) ha anunciado la finalización de su programa de recompra de acciones de 200 millones de dólares que fue autorizado por su Junta Directiva en julio de 2024. La compañía ha recomprado 868,026 acciones ordinarias, lo que representa aproximadamente el 1.5% del total de acciones en circulación. La recompra se ejecutó a un precio promedio ponderado por volumen de 230.41 dólares por acción.
Wix (NASDAQ: WIX)는 2024년 7월 이사회에서 승인한 2억 달러 규모의 자사주 매입 프로그램의 완료를 발표했습니다. 회사는 868,026주의 보통주를 매입했으며, 이는 총 유통 주식의 약 1.5%에 해당합니다. 매입은 주당 230.41달러의 가중 평균 가격으로 수행되었습니다.
Wix (NASDAQ: WIX) a annoncé l'achèvement de son programme de rachat d'actions de 200 millions de dollars autorisé par son conseil d'administration en juillet 2024. La société a racheté 868.026 actions ordinaires, ce qui représente environ 1,5% du total des actions en circulation. Le rachat a été effectué à un prix moyen pondéré par le volume de 230,41 dollars par action.
Wix (NASDAQ: WIX) hat den Abschluss seines Aktienrückkaufprogramms über 200 Millionen Dollar bekannt gegeben, das im Juli 2024 von seinem Vorstand genehmigt wurde. Das Unternehmen hat 868.026 Stammaktien zurückgekauft, was etwa 1,5% der insgesamt ausstehenden Aktien entspricht. Der Rückkauf wurde zu einem volumengewichteten Durchschnittspreis von 230,41 Dollar pro Aktie durchgeführt.
- Completed $200 million share buyback program, reducing share count by 1.5%
- Strong average repurchase price of $230.41 demonstrates company's confidence in stock value
- Share reduction potentially increases earnings per share for remaining shareholders
- Significant cash outlay of $200 million reduces company's available liquidity
Insights
Wix's completion of its
The buyback's execution price point and timing reveal important insights about management's view of the company's valuation. By deploying capital at these levels, Wix's leadership effectively signals their belief that the shares were undervalued relative to their long-term potential. For existing shareholders, this move is particularly beneficial as it increases their proportional ownership of the company without requiring any action on their part.
The reduction in share count has several positive implications:
- Enhanced earnings per share (EPS) metrics due to fewer outstanding shares
- Improved return on equity (ROE) ratios
- Potential positive impact on stock price due to increased demand relative to supply
From a market perspective, completing the buyback program, which was announced just six months ago, indicates strong execution capabilities and efficient capital deployment. This swift implementation suggests robust free cash flow generation and a healthy balance sheet position, essential factors for sustainable growth in the competitive web development and hosting space.
NEW YORK – – Wix.com Ltd. (NASDAQ: WIX), today announced that it has completed
The Company repurchased 868,026 outstanding Wix ordinary shares, representing approximately
About Wix.com Ltd.
Wix is the leading SaaS website builder platform1 to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users - self-creators, agencies, enterprises, and more - with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients.
For more about Wix, please visit our Press Room
Investor Relations Contact: IR@wix.com
Media Relations Contact: PR@wix.com
1 Based on number of active live sites as reported by competitors' figures, independent third-party data and internal data as of H1 2024.
FAQ
How many shares did Wix repurchase in its 2024 buyback program?
What was the average price per share in Wix's 2024 buyback program?
When did Wix's Board approve the $200 million share repurchase program?
What percentage of outstanding shares did Wix's 2024 buyback program represent?
