Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,229,808 shares of the information services provider’s stock after selling 14,941 shares during the quarter. Wix.com comprises approximately 1.1% of Acadian Asset Management LLC’s portfolio, making the stock its 17th largest holding. Acadian Asset Management LLC owned about 4.01% of Wix.com worth $306,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighMark Wealth Management LLC purchased a new position in shares of Wix.com during the fourth quarter worth approximately $26,000. Northwest Bank & Trust Co acquired a new position in Wix.com in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of Wix.com in the first quarter valued at about $37,000. Principal Securities Inc. acquired a new stake in shares of Wix.com during the fourth quarter worth about $93,000. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Wix.com during the first quarter worth about $214,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WIX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Wix.com in a research report on Monday, May 20th. Royal Bank of Canada increased their price target on Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Benchmark boosted their price objective on shares of Wix.com from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. UBS Group raised their target price on shares of Wix.com from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, JMP Securities boosted their price target on shares of Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.59.

Wix.com Trading Up 0.4 %

Shares of NASDAQ:WIX traded up $0.62 during midday trading on Friday, hitting $163.30. 544,528 shares of the stock were exchanged, compared to its average volume of 424,934. Wix.com Ltd. has a twelve month low of $76.90 and a twelve month high of $178.65. The company has a 50 day moving average price of $160.32 and a 200-day moving average price of $140.47. The stock has a market cap of $9.34 billion, a P/E ratio of 143.25, a PEG ratio of 3.86 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last posted its earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.18. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The firm had revenue of $419.78 million during the quarter, compared to the consensus estimate of $417.71 million. On average, equities research analysts expect 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.