Merit Financial Group LLC Buys Shares of 4,261 Wix.com Ltd. (NASDAQ:WIX)

Merit Financial Group LLC purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,261 shares of the information services provider’s stock, valued at approximately $524,000.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Wix.com by 10.6% during the third quarter. Wellington Management Group LLP now owns 1,093,569 shares of the information services provider’s stock valued at $100,390,000 after buying an additional 105,026 shares during the period. Clearbridge Investments LLC lifted its stake in Wix.com by 43.5% during the third quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock worth $99,759,000 after purchasing an additional 329,561 shares during the last quarter. Senvest Management LLC lifted its stake in Wix.com by 194.2% during the third quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock worth $55,625,000 after purchasing an additional 399,944 shares during the last quarter. Sei Investments Co. lifted its stake in Wix.com by 8.2% during the third quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock worth $49,482,000 after purchasing an additional 40,831 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its stake in Wix.com by 17.4% during the third quarter. Meitav Investment House Ltd. now owns 534,708 shares of the information services provider’s stock worth $49,032,000 after purchasing an additional 79,349 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $122.14 on Wednesday. Wix.com Ltd. has a 1 year low of $73.39 and a 1 year high of $146.21. The company has a market cap of $6.80 billion, a PE ratio of 222.07, a P/E/G ratio of 4.13 and a beta of 1.34. The stock’s 50-day moving average is $132.03 and its 200 day moving average is $119.35.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same quarter in the previous year, the business earned ($0.42) EPS. Wix.com’s revenue was up 13.7% compared to the same quarter last year. Analysts expect that Wix.com Ltd. will post 1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James assumed coverage on Wix.com in a research note on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price target for the company. Barclays boosted their target price on Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Wix.com in a research note on Wednesday, February 21st. Morgan Stanley lowered their target price on Wix.com from $157.00 to $143.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Wix.com in a research note on Tuesday, April 30th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.29.

Wix.com Profile

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.