Entropy Technologies LP Purchases New Stake in Wix.com Ltd. $WIX

Entropy Technologies LP purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,357 shares of the information services provider’s stock, valued at approximately $2,115,000.

A number of other hedge funds have also recently modified their holdings of WIX. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Wix.com by 7.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock valued at $172,000 after acquiring an additional 120 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Wix.com by 2.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock valued at $693,000 after purchasing an additional 142 shares during the period. TD Private Client Wealth LLC increased its position in Wix.com by 18.7% during the 4th quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock valued at $98,000 after purchasing an additional 148 shares during the period. Finally, Cerity Partners LLC raised its holdings in Wix.com by 13.4% in the 2nd quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Citizens Jmp cut Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. Oppenheimer reduced their target price on Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Royal Bank Of Canada decreased their target price on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. lowered their target price on Wix.com from $91.00 to $86.00 and set an “underweight” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.95.

Wix.com Trading Down 0.7%

NASDAQ WIX opened at $45.59 on Tuesday. Wix.com Ltd. has a 12 month low of $42.66 and a 12 month high of $190.93. The stock’s fifty day moving average price is $64.08 and its 200-day moving average price is $80.16. The stock has a market cap of $2.66 billion, a P/E ratio of -58.45 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.Wix.com’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 EPS. As a group, analysts forecast that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

Wix.com Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.