PNC Financial Services Group Inc. Has $291,000 Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

PNC Financial Services Group Inc. cut its stake in Wix.com Ltd. (NASDAQ:WIX) by 25.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,368 shares of the information services provider’s stock after selling 809 shares during the period. PNC Financial Services Group Inc.’s holdings in Wix.com were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WIX. HighMark Wealth Management LLC acquired a new stake in Wix.com in the 4th quarter valued at $26,000. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the 4th quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in shares of Wix.com during the 4th quarter worth approximately $93,000. Optimist Retirement Group LLC bought a new stake in Wix.com in the 4th quarter valued at $201,000. Finally, Ieq Capital LLC acquired a new stake in Wix.com during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Wix.com from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Raymond James started coverage on shares of Wix.com in a report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price target on the stock. Bank of America boosted their price objective on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. JMP Securities increased their target price on Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 21st. Finally, Citigroup lifted their price target on Wix.com from $175.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.59.

Wix.com Trading Down 0.1 %

NASDAQ WIX opened at $159.07 on Monday. Wix.com Ltd. has a 1 year low of $75.09 and a 1 year high of $178.65. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 139.54, a P/E/G ratio of 3.76 and a beta of 1.46. The firm’s 50 day simple moving average is $148.49 and its 200 day simple moving average is $136.36.

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

About Wix.com

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.