Clearbridge Investments LLC raised its stake in Wix.Com Ltd (NASDAQ:WIX) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,150,051 shares of the information services provider’s stock after purchasing an additional 170,122 shares during the quarter. Clearbridge Investments LLC owned 2.53% of Wix.Com worth $66,185,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bank Hapoalim BM purchased a new position in shares of Wix.Com in the 3rd quarter valued at approximately $1,064,000. Point72 Asset Management L.P. purchased a new position in shares of Wix.Com in the 3rd quarter valued at approximately $7,889,000. Davidson Kempner Capital Management LP purchased a new position in shares of Wix.Com in the 3rd quarter valued at approximately $10,763,000. Macquarie Group Ltd. grew its stake in shares of Wix.Com by 292.7% in the 3rd quarter. Macquarie Group Ltd. now owns 194,697 shares of the information services provider’s stock valued at $13,989,000 after purchasing an additional 145,117 shares during the last quarter. Finally, Pier Capital LLC grew its stake in shares of Wix.Com by 119.5% in the 3rd quarter. Pier Capital LLC now owns 91,267 shares of the information services provider’s stock valued at $6,558,000 after purchasing an additional 49,684 shares during the last quarter. Institutional investors own 82.33% of the company’s stock.
Several brokerages have weighed in on WIX. BidaskClub upgraded Wix.Com from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 2nd. Citigroup lifted their target price on Wix.Com from $69.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their target price on Wix.Com from $70.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Wedbush lifted their target price on Wix.Com from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC lifted their target price on Wix.Com from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $80.60.
Wix.Com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 14th. The information services provider reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Wix.Com had a negative return on equity of 1,376.12% and a negative net margin of 13.22%. The firm had revenue of $118.60 million for the quarter, compared to the consensus estimate of $116.86 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. research analysts anticipate that Wix.Com Ltd will post -0.54 EPS for the current year.
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Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
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