Raymond James & Associates Cuts Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Raymond James & Associates trimmed its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 9.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,380 shares of the information services provider’s stock after selling 2,213 shares during the period. Raymond James & Associates’ holdings in Wix.com were worth $2,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Wix.com during the 2nd quarter valued at approximately $29,000. UniSuper Management Pty Ltd acquired a new stake in Wix.com in the 2nd quarter valued at $31,000. BluePath Capital Management LLC acquired a new stake in Wix.com in the 3rd quarter valued at $37,000. Headlands Technologies LLC acquired a new stake in Wix.com in the 3rd quarter valued at $45,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Wix.com in the 2nd quarter valued at $47,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WIX shares. Barclays lifted their price target on shares of Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Raymond James started coverage on shares of Wix.com in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price target on the stock. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday. JMP Securities lifted their price target on shares of Wix.com from $130.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada lifted their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Wix.com Stock Down 3.2 %

Shares of WIX opened at $127.14 on Monday. The stock has a 50 day moving average price of $135.26 and a 200 day moving average price of $115.23. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 231.16, a price-to-earnings-growth ratio of 4.38 and a beta of 1.33. Wix.com Ltd. has a 52-week low of $73.39 and a 52-week high of $146.21.

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

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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.