Kestra Advisory Services LLC Raises Stake in Wix.com Ltd. (NASDAQ:WIX)

Kestra Advisory Services LLC grew its holdings in Wix.com Ltd. (NASDAQ:WIX) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,583 shares of the information services provider’s stock after buying an additional 55 shares during the period. Kestra Advisory Services LLC’s holdings in Wix.com were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Wix.com by 55.7% in the 4th quarter. BlackRock Inc. now owns 4,280,647 shares of the information services provider’s stock valued at $1,069,990,000 after buying an additional 1,532,220 shares during the last quarter. Flossbach Von Storch AG purchased a new stake in shares of Wix.com in the first quarter valued at about $352,236,000. Winslow Capital Management LLC boosted its holdings in shares of Wix.com by 43.5% in the fourth quarter. Winslow Capital Management LLC now owns 1,060,388 shares of the information services provider’s stock valued at $265,054,000 after acquiring an additional 321,263 shares in the last quarter. Jackson Square Partners LLC increased its stake in shares of Wix.com by 11.5% during the fourth quarter. Jackson Square Partners LLC now owns 2,628,255 shares of the information services provider’s stock worth $656,958,000 after acquiring an additional 270,904 shares during the period. Finally, Norges Bank purchased a new position in Wix.com during the fourth quarter worth about $51,286,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Several research firms have issued reports on WIX. Wolfe Research assumed coverage on Wix.com in a research report on Wednesday, March 31st. They set an “outperform” rating and a $350.00 target price on the stock. Barclays cut their price objective on Wix.com from $340.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, May 13th. Evercore ISI began coverage on shares of Wix.com in a research report on Monday, April 5th. They set an “outperform” rating and a $370.00 target price on the stock. Oppenheimer increased their price target on shares of Wix.com from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, February 18th. They noted that the move was a valuation call. Finally, JMP Securities lowered their target price on shares of Wix.com from $370.00 to $350.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 13th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $323.06.

WIX opened at $271.87 on Friday. The firm has a market capitalization of $15.23 billion, a price-to-earnings ratio of -50.53 and a beta of 1.38. The firm’s fifty day moving average is $276.72. Wix.com Ltd. has a 52 week low of $209.00 and a 52 week high of $362.07. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 4.30.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 12th. The information services provider reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.54) by $1.00. The company had revenue of $304.10 million for the quarter, compared to analyst estimates of $295.05 million. Wix.com had a negative net margin of 27.78% and a negative return on equity of 87.95%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, research analysts forecast that Wix.com Ltd. will post -4.13 earnings per share for the current fiscal year.

Wix.com Company Profile

Wix.com Ltd, together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.

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Institutional Ownership by Quarter for Wix.com (NASDAQ:WIX)

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