Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of Wix.Com Ltd (NASDAQ:WIX) by 23.5% during the 1st quarter, HoldingsChannel reports. The fund owned 2,959 shares of the information services provider’s stock after purchasing an additional 564 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Wix.Com were worth $357,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Raymond James & Associates increased its position in Wix.Com by 35.4% during the first quarter. Raymond James & Associates now owns 52,679 shares of the information services provider’s stock worth $6,365,000 after buying an additional 13,774 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Wix.Com by 19.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,563 shares of the information services provider’s stock worth $2,243,000 after buying an additional 3,049 shares during the last quarter. American International Group Inc. acquired a new position in Wix.Com during the first quarter worth approximately $582,000. Nissay Asset Management Corp Japan ADV increased its position in Wix.Com by 4.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 3,860 shares of the information services provider’s stock worth $466,000 after buying an additional 149 shares during the last quarter. Finally, Cavalier Investments LLC acquired a new position in Wix.Com during the first quarter worth approximately $375,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.
WIX has been the topic of a number of recent analyst reports. Rosenblatt Securities downgraded Wix.Com from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $75.00 to $73.00 in a research report on Wednesday, February 20th. KeyCorp initiated coverage on Wix.Com in a research report on Monday, April 29th. They set a “sector weight” rating on the stock. Zacks Investment Research downgraded Wix.Com from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Macquarie initiated coverage on Wix.Com in a research report on Wednesday, March 27th. They set a “neutral” rating and a $116.00 price target on the stock. Finally, Raymond James downgraded Wix.Com from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.88.
Wix.Com (NASDAQ:WIX) last issued its quarterly earnings data on Thursday, May 16th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.30. Wix.Com had a negative return on equity of 19.47% and a negative net margin of 7.51%. The company had revenue of $174.29 million during the quarter, compared to analysts’ expectations of $172.98 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. Equities research analysts expect that Wix.Com Ltd will post -1.34 earnings per share for the current year.
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Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.
Further Reading: Earnings Per Share (EPS) Explained
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