Wolverine Asset Management LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,169 shares of the information services provider’s stock, valued at approximately $122,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Financial Services Inc bought a new position in Wix.com in the 1st quarter worth $100,000. abrdn plc increased its stake in Wix.com by 13.3% in the 1st quarter. abrdn plc now owns 15,003 shares of the information services provider’s stock worth $1,548,000 after buying an additional 1,756 shares in the last quarter. Avory & Company LLC grew its position in shares of Wix.com by 72.3% during the first quarter. Avory & Company LLC now owns 54,663 shares of the information services provider’s stock valued at $5,710,000 after purchasing an additional 22,933 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Wix.com by 8.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 35,178 shares of the information services provider’s stock valued at $3,675,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Wix.com by 105.1% during the first quarter. Steward Partners Investment Advisory LLC now owns 640 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 328 shares in the last quarter. 89.89% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on WIX shares. Wedbush reiterated an “outperform” rating on shares of Wix.com in a research report on Monday, May 16th. Evercore ISI cut their price target on shares of Wix.com from $145.00 to $105.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Piper Sandler lowered shares of Wix.com from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $105.00 to $78.00 in a report on Monday, April 25th. JMP Securities dropped their price objective on shares of Wix.com from $130.00 to $100.00 and set a “market outperform” rating on the stock in a report on Thursday, July 14th. Finally, Benchmark assumed coverage on shares of Wix.com in a report on Wednesday, April 13th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.94.
Wix.com Price Performance
Wix.com (NASDAQ:WIX – Get Rating) last released its quarterly earnings data on Monday, May 16th. The information services provider reported ($1.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.75) by $0.14. The company had revenue of $341.60 million during the quarter, compared to the consensus estimate of $340.47 million. Wix.com had a negative net margin of 21.70% and a negative return on equity of 136.41%. Wix.com’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.36) earnings per share. Sell-side analysts predict that Wix.com Ltd. will post -5.36 earnings per share for the current year.
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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