Comerica Bank trimmed its stake in shares of Wix.Com Ltd (NASDAQ:WIX) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,996 shares of the information services provider’s stock after selling 221 shares during the quarter. Comerica Bank’s holdings in Wix.Com were worth $567,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WIX. Quadrant Capital Group LLC lifted its holdings in shares of Wix.Com by 20.9% in the 1st quarter. Quadrant Capital Group LLC now owns 463 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 80 shares during the last quarter. Highstreet Asset Management Inc. purchased a new stake in Wix.Com during the 1st quarter valued at approximately $60,000. WINTON GROUP Ltd purchased a new stake in Wix.Com during the 2nd quarter valued at approximately $207,000. Chicago Capital LLC purchased a new stake in Wix.Com during the 2nd quarter valued at approximately $213,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Wix.Com during the 1st quarter valued at approximately $242,000. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of WIX traded down $2.59 during trading hours on Friday, hitting $123.81. The stock had a trading volume of 459,430 shares, compared to its average volume of 414,568. The company’s fifty day simple moving average is $143.35 and its 200 day simple moving average is $134.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.93 and a current ratio of 1.93. Wix.Com Ltd has a 12-month low of $80.20 and a 12-month high of $155.75. The firm has a market cap of $6.41 billion, a P/E ratio of -281.39 and a beta of 1.55.
Wix.Com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, July 24th. The information services provider reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.17. The company had revenue of $185.40 million for the quarter, compared to analyst estimates of $183.92 million. Wix.Com had a negative return on equity of 21.60% and a negative net margin of 8.70%. The firm’s revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. As a group, sell-side analysts predict that Wix.Com Ltd will post -1.22 earnings per share for the current fiscal year.
WIX has been the topic of several recent analyst reports. Deutsche Bank boosted their target price on Wix.Com from $135.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded Wix.Com from a “strong sell” rating to a “hold” rating and set a $122.00 target price on the stock in a research report on Saturday, July 20th. Northland Securities set a $160.00 price target on Wix.Com and gave the stock a “buy” rating in a report on Friday, August 23rd. Oppenheimer upped their price target on Wix.Com from $122.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Finally, Royal Bank of Canada upped their price target on Wix.Com to $166.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $136.39.
Wix.Com Company Profile
Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.
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