Envestnet Asset Management Inc. Sells 1,293 Shares of Wix.com Ltd. (NASDAQ:WIX)

Envestnet Asset Management Inc. decreased its stake in shares of Wix.com Ltd. (NASDAQ:WIX – Get Rating) by 7.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,059 shares of the information services provider’s stock after selling 1,293 shares during the period. Envestnet Asset Management Inc.’s holdings in Wix.com were worth $1,311,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WIX. Robeco Institutional Asset Management B.V. purchased a new position in shares of Wix.com in the fourth quarter valued at $3,311,000. Daiwa Securities Group Inc. increased its holdings in shares of Wix.com by 10.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 11,100 shares of the information services provider’s stock worth $853,000 after buying an additional 1,037 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Wix.com during the 4th quarter valued at about $33,000. Y.D. More Investments Ltd bought a new position in shares of Wix.com in the 4th quarter valued at about $523,000. Finally, Ellevest Inc. grew its position in Wix.com by 54.3% in the fourth quarter. Ellevest Inc. now owns 963 shares of the information services provider’s stock worth $74,000 after acquiring an additional 339 shares in the last quarter. 91.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WIX shares. Robert W. Baird initiated coverage on Wix.com in a research note on Tuesday, April 11th. They issued a “neutral” rating and a $105.00 price objective for the company. Wolfe Research reiterated an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Wix.com in a research report on Thursday, February 23rd. Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $99.00 to $120.00 in a research note on Tuesday, March 21st. StockNews.com assumed coverage on shares of Wix.com in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Raymond James upgraded Wix.com from a “market perform” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.14.

Wix.com Stock Down 1.7 %

Shares of NASDAQ WIX opened at $77.57 on Wednesday. Wix.com Ltd. has a twelve month low of $53.12 and a twelve month high of $101.55. The business has a fifty day simple moving average of $87.55 and a two-hundred day simple moving average of $85.47. The firm has a market cap of $4.40 billion, a PE ratio of -21.67 and a beta of 1.24.

Wix.com (NASDAQ:WIX – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The information services provider reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.39. The business had revenue of $355.04 million during the quarter, compared to analysts’ expectations of $351.69 million. On average, research analysts expect that Wix.com Ltd. will post -2.43 earnings per share for the current year.

Wix.com Company Profile

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Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.