Traders Buy Large Volume of Wix.com Call Options (NASDAQ:WIX)

Wix.com Ltd. (NASDAQ:WIX) saw some unusual options trading activity on Thursday. Investors purchased 3,046 call options on the company. This represents an increase of 84% compared to the typical daily volume of 1,654 call options.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently bought and sold shares of WIX. Dorsal Capital Management LP grew its position in shares of Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Wix.com by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after purchasing an additional 117,146 shares during the period. Clearbridge Investments LLC increased its stake in shares of Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares during the period. Renaissance Technologies LLC increased its stake in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Finally, Norges Bank purchased a new stake in Wix.com during the 4th quarter worth about $34,554,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Down 2.2 %

NASDAQ:WIX opened at $156.08 on Friday. The company has a market cap of $8.56 billion, a P/E ratio of 137.97, a P/E/G ratio of 3.51 and a beta of 1.47. Wix.com has a twelve month low of $76.90 and a twelve month high of $178.65. The company’s 50-day moving average price is $160.85 and its 200-day moving average price is $148.54.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, analysts expect that Wix.com will post 2.01 earnings per share for the current year.

Analyst Ratings Changes

WIX has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on Wix.com in a research report on Thursday. They issued an “overweight” rating and a $200.00 price objective on the stock. Bank of America lifted 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. Barclays upped their price target on shares of Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of Wix.com from $160.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Piper Sandler restated a “neutral” rating and set a $184.00 target price on shares of Wix.com in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $189.19.

Wix.com Company 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.