Mirae Asset Global Investments Co. Ltd. Sells 2,205 Shares of Wix.com Ltd. (NASDAQ:WIX)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,976 shares of the information services provider’s stock after selling 2,205 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wix.com were worth $1,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dorsal Capital Management LP increased 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 valued at $206,791,000 after buying an additional 250,000 shares during the period. Clearbridge Investments LLC increased its position in shares of Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after purchasing an additional 33,338 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares during the last quarter. Eminence Capital LP increased its position in shares of Wix.com by 7.3% in the second quarter. Eminence Capital LP now owns 244,424 shares of the information services provider’s stock worth $38,881,000 after purchasing an additional 16,529 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Wix.com by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 112,500 shares of the information services provider’s stock worth $15,466,000 after purchasing an additional 796 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Performance

NASDAQ:WIX opened at $163.94 on Friday. The business has a 50 day moving average price of $163.32 and a 200-day moving average price of $155.91. Wix.com Ltd. has a fifty-two week low of $80.10 and a fifty-two week high of $179.00. The firm has a market cap of $8.99 billion, a PE ratio of 130.11, a price-to-earnings-growth ratio of 3.57 and a beta of 1.48.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Research analysts predict that Wix.com Ltd. will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

WIX has been the topic of several research analyst reports. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. KeyCorp initiated coverage on shares of Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Barclays decreased their price objective on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. JMP Securities restated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

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.