Van ECK Associates Corp Acquires 1,028 Shares of Wix.com Ltd. (NASDAQ:WIX)

Van ECK Associates Corp grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,531 shares of the information services provider’s stock after buying an additional 1,028 shares during the quarter. Van ECK Associates Corp’s holdings in Wix.com were worth $1,911,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WIX. Choreo LLC acquired a new position in Wix.com during the fourth quarter valued at approximately $552,000. Russell Investments Group Ltd. grew its stake in shares of Wix.com by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 67,993 shares of the information services provider’s stock valued at $8,450,000 after buying an additional 3,433 shares in the last quarter. Semanteon Capital Management LP bought a new position in shares of Wix.com in the fourth quarter valued at $1,265,000. Cumberland Partners Ltd raised its position in Wix.com by 80.0% during the fourth quarter. Cumberland Partners Ltd now owns 9,000 shares of the information services provider’s stock worth $1,107,000 after acquiring an additional 4,000 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Wix.com by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 139,550 shares of the information services provider’s stock worth $17,167,000 after acquiring an additional 3,596 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WIX shares. Royal Bank of Canada boosted their price objective on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. UBS Group upped their price objective on Wix.com from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Raymond James initiated coverage on Wix.com in a research note on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price for the company. Morgan Stanley dropped their price target on Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Barclays lifted their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Wix.com Trading Down 0.8 %

NASDAQ WIX opened at $121.11 on Thursday. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 220.20, a PEG ratio of 4.13 and a beta of 1.34. Wix.com Ltd. has a 1-year low of $73.39 and a 1-year high of $146.21. The company has a 50 day moving average of $131.67 and a 200-day moving average of $119.36.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share 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 firm had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same period in the prior year, the company posted ($0.42) EPS. The company’s revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts forecast that Wix.com Ltd. will post 1.16 earnings per share for the current year.

About Wix.com

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.