Nicholas Investment Partners LP Sells 8,327 Shares of Wix.com Ltd. (NASDAQ:WIX)

Nicholas Investment Partners LP cut its stake in Wix.com Ltd. (NASDAQ:WIX) by 30.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,440 shares of the information services provider’s stock after selling 8,327 shares during the quarter. Nicholas Investment Partners LP’s holdings in Wix.com were worth $1,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meitav Investment House Ltd. boosted its stake in Wix.com by 24.3% during the second quarter. Meitav Investment House Ltd. now owns 455,359 shares of the information services provider’s stock valued at $35,155,000 after buying an additional 88,945 shares during the period. Lido Advisors LLC bought a new position in shares of Wix.com in the second quarter worth approximately $361,000. California Public Employees Retirement System raised its stake in Wix.com by 6.5% in the second quarter. California Public Employees Retirement System now owns 95,751 shares of the information services provider’s stock valued at $7,492,000 after purchasing an additional 5,826 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Wix.com by 29.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,984 shares of the information services provider’s stock valued at $1,798,000 after purchasing an additional 5,241 shares during the last quarter. Finally, Leuthold Group LLC purchased a new position in Wix.com in the 2nd quarter worth approximately $3,777,000. 83.91% of the stock is currently owned by institutional investors.

Wix.com Trading Down 2.3 %

Wix.com stock traded down $2.19 during trading hours on Thursday, hitting $93.33. 48,771 shares of the stock traded hands, compared to its average volume of 767,961. Wix.com Ltd. has a one year low of $70.28 and a one year high of $102.82. The firm’s 50-day moving average price is $88.06 and its two-hundred day moving average price is $85.01. The company has a market cap of $5.33 billion, a PE ratio of -561.85 and a beta of 1.21.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WIX. JMP Securities lifted their price objective on shares of Wix.com from $114.00 to $130.00 and gave the stock a “market outperform” rating in a report on Friday, September 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $110.00 price objective on shares of Wix.com in a report on Monday, August 14th. UBS Group started coverage on Wix.com in a research report on Friday, September 22nd. They issued a “buy” rating and a $125.00 target price for the company. Needham & Company LLC boosted their price objective on shares of Wix.com from $120.00 to $130.00 in a report on Friday, August 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wix.com in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.63.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables 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.