ARK Investment Management LLC Boosts Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

ARK Investment Management LLC grew its position in shares of Wix.com Ltd. (NASDAQ:WIXGet Rating) by 31.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,038 shares of the information services provider’s stock after buying an additional 6,216 shares during the quarter. ARK Investment Management LLC’s holdings in Wix.com were worth $1,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Eminence Capital LP lifted its position in Wix.com by 314.8% during the first quarter. Eminence Capital LP now owns 1,242,745 shares of the information services provider’s stock valued at $129,817,000 after purchasing an additional 943,121 shares during the period. First Trust Advisors LP lifted its position in Wix.com by 22,397.5% during the first quarter. First Trust Advisors LP now owns 690,449 shares of the information services provider’s stock valued at $72,124,000 after purchasing an additional 687,380 shares during the period. Dorsey Asset Management LLC lifted its position in Wix.com by 75.2% during the fourth quarter. Dorsey Asset Management LLC now owns 1,485,198 shares of the information services provider’s stock valued at $234,349,000 after purchasing an additional 637,351 shares during the period. Steadfast Capital Management LP lifted its position in Wix.com by 4,365.6% during the first quarter. Steadfast Capital Management LP now owns 613,578 shares of the information services provider’s stock valued at $64,094,000 after purchasing an additional 599,838 shares during the period. Finally, Baillie Gifford & Co. lifted its position in Wix.com by 15.9% during the first quarter. Baillie Gifford & Co. now owns 3,784,926 shares of the information services provider’s stock valued at $395,373,000 after purchasing an additional 519,988 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WIX. Royal Bank of Canada increased their price target on shares of Wix.com from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 11th. StockNews.com downgraded shares of Wix.com from a “hold” rating to a “sell” rating in a research report on Friday, September 9th. Jefferies Financial Group decreased their price target on shares of Wix.com from $115.00 to $100.00 in a research report on Tuesday, May 31st. Morgan Stanley increased their price target on shares of Wix.com from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 11th. Finally, JMP Securities decreased their price target on shares of Wix.com from $130.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Wix.com currently has a consensus rating of “Hold” and a consensus price target of $129.13.

Wix.com Stock Up 15.7 %

WIX opened at $85.26 on Tuesday. The company has a fifty day moving average of $67.31 and a 200 day moving average of $73.10. Wix.com Ltd. has a fifty-two week low of $53.12 and a fifty-two week high of $211.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 6.33.

Wix.com (NASDAQ:WIXGet Rating) last posted its earnings results on Wednesday, August 10th. The information services provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.25. Wix.com had a negative net margin of 32.40% and a negative return on equity of 333.40%. The company had revenue of $345.20 million during the quarter, compared to analysts’ expectations of $344.33 million. During the same period last year, the company posted ($1.01) earnings per share. Wix.com’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Wix.com Ltd. will post -4.41 earnings per share for the current fiscal year.

Wix.com Profile

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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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