Mackenzie Financial Corp Sells 10,790 Shares of Wix.com Ltd. (NASDAQ:WIX)

Mackenzie Financial Corp lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 17.4% in the 4th quarter, Holdings Channel reports. The firm owned 51,214 shares of the information services provider’s stock after selling 10,790 shares during the quarter. Mackenzie Financial Corp’s holdings in Wix.com were worth $6,300,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. HighMark Wealth Management LLC bought a new position in Wix.com in the 4th quarter worth about $26,000. Quarry LP bought a new position in Wix.com in the 2nd quarter worth about $29,000. UniSuper Management Pty Ltd bought a new position in Wix.com in the 2nd quarter worth about $31,000. BluePath Capital Management LLC bought a new position in Wix.com in the 3rd quarter worth about $37,000. Finally, Headlands Technologies LLC bought a new position in Wix.com in the 3rd quarter worth about $45,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of Wix.com stock opened at $121.41 on Friday. The business’s 50 day simple moving average is $134.44 and its two-hundred day simple moving average is $116.19. The stock has a market capitalization of $6.76 billion, a P/E ratio of 220.75, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. Wix.com Ltd. has a one year low of $73.39 and a one year high of $146.21.

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

Analysts Set New Price Targets

Several analysts have weighed in on WIX shares. UBS Group raised their price target on Wix.com from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Raymond James started coverage on Wix.com in a report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price target on the stock. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Royal Bank of Canada raised their price target on Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Benchmark raised their price target on Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.29.

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.