Sumitomo Mitsui Trust Holdings Inc. Sells 13,594 Shares of Wix.com Ltd. (NASDAQ:WIX)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 12.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 98,906 shares of the information services provider’s stock after selling 13,594 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Wix.com were worth $15,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WIX. M&G Plc grew its position in shares of Wix.com by 12.4% during the 2nd quarter. M&G Plc now owns 65,387 shares of the information services provider’s stock worth $10,397,000 after buying an additional 7,231 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Wix.com by 311.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,414 shares of the information services provider’s stock worth $702,000 after purchasing an additional 3,341 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Wix.com by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock worth $395,000 after purchasing an additional 215 shares during the period. Swedbank AB bought a new stake in Wix.com in the first quarter valued at about $2,319,000. Finally, iA Global Asset Management Inc. lifted its stake in Wix.com by 176.5% in the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after buying an additional 10,427 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Trading Down 0.6 %

Shares of WIX opened at $170.03 on Wednesday. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of 149.15, a PEG ratio of 3.63 and a beta of 1.47. Wix.com Ltd. has a 12 month low of $76.90 and a 12 month high of $178.65. The firm has a fifty day simple moving average of $159.97 and a 200 day simple moving average of $145.87.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, research analysts predict that Wix.com Ltd. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WIX. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley upped their target price on shares of Wix.com from $143.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. UBS Group lifted their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Benchmark upped their price objective on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America lifted their target price on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $188.47.

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.