Los Angeles Capital Management LLC Trims Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Los Angeles Capital Management LLC trimmed its holdings in Wix.com Ltd. (NASDAQ:WIX) by 97.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,910 shares of the information services provider’s stock after selling 63,165 shares during the period. Los Angeles Capital Management LLC’s holdings in Wix.com were worth $263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WIX. HighMark Wealth Management LLC bought a new position in Wix.com in the fourth quarter worth approximately $26,000. Northwest Bank & Trust Co bought a new position in Wix.com in the fourth quarter worth approximately $26,000. Principal Securities Inc. bought a new position in Wix.com in the fourth quarter worth approximately $93,000. Optimist Retirement Group LLC bought a new position in Wix.com in the fourth quarter worth approximately $201,000. Finally, Ieq Capital LLC bought a new position in Wix.com in the fourth quarter worth approximately $214,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WIX has been the topic of several recent research reports. Bank of America increased their target price on Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JMP Securities increased their target price on Wix.com from $150.00 to $180.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 21st. Citigroup increased their target price on Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada increased their target price on Wix.com from $160.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Finally, Benchmark increased their target price on Wix.com from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.59.

Wix.com Price Performance

Shares of WIX stock opened at $159.19 on Friday. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 139.64, a price-to-earnings-growth ratio of 3.71 and a beta of 1.46. The business has a fifty day moving average of $147.74 and a 200 day moving average of $135.60. Wix.com Ltd. has a 1 year low of $75.09 and a 1 year high of $178.65.

Wix.com (NASDAQ:WIX) last issued its earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. The company had revenue of $419.78 million during the quarter, compared to analyst estimates of $417.71 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. As a group, equities research analysts expect that Wix.com Ltd. will post 1.91 earnings per share for the current year.

Wix.com 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.