Envestnet Asset Management Inc. Decreases Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Envestnet Asset Management Inc. lowered its position in Wix.com Ltd. (NASDAQ:WIX) by 14.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,931 shares of the information services provider’s stock after selling 4,440 shares during the period. Envestnet Asset Management Inc.’s holdings in Wix.com were worth $4,125,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Capital Fund Management S.A. boosted its holdings in Wix.com by 1,378.7% in the fourth quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock worth $19,739,000 after acquiring an additional 149,605 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in Wix.com by 328.5% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock worth $22,144,000 after purchasing an additional 137,991 shares in the last quarter. Wellington Management Group LLP grew its position in Wix.com by 10.7% during the 4th 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 last quarter. State Board of Administration of Florida Retirement System grew its position in Wix.com by 2,110.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock worth $9,568,000 after purchasing an additional 66,447 shares during the last quarter. Finally, G2 Investment Partners Management LLC acquired a new position in Wix.com during the 4th quarter valued at approximately $7,984,000. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WIX. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. KeyCorp started coverage on Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday. Benchmark lifted their target price on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America increased their price target on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Stock Performance

WIX opened at $157.49 on Wednesday. The company has a fifty day moving average of $160.85 and a two-hundred day moving average of $151.52. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 138.15, a PEG ratio of 3.58 and a beta of 1.47. Wix.com Ltd. has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. On average, equities research analysts forecast that Wix.com Ltd. will post 2.1 earnings per share for the current year.

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.