Wix.com Ltd. (NASDAQ:WIX) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 17,795 shares of the information services provider’s stock after acquiring an additional 593 shares during the quarter. ARK Investment Management LLC’s holdings in Wix.com were worth $2,831,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com in the fourth quarter worth approximately $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Wix.com in the 1st quarter valued at $37,000. Principal Securities Inc. purchased a new stake in shares of Wix.com during the 4th quarter valued at $93,000. Industrial Alliance Investment Management Inc. increased its holdings in shares of Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. Finally, Optimist Retirement Group LLC purchased a new position in shares of Wix.com in the 4th quarter worth $201,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Up 0.5 %

Wix.com stock traded up $0.86 during mid-day trading on Tuesday, hitting $166.81. The company’s stock had a trading volume of 227,773 shares, compared to its average volume of 595,710. Wix.com Ltd. has a twelve month low of $76.90 and a twelve month high of $178.65. The stock’s fifty day moving average price is $160.15 and its two-hundred day moving average price is $146.91. The stock has a market capitalization of $9.54 billion, a P/E ratio of 145.57, a P/E/G ratio of 3.66 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same period in the previous year, the firm earned $0.58 earnings per share. Wix.com’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts expect that Wix.com Ltd. will post 2.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WIX shares. Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their price target on shares of Wix.com from $160.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Needham & Company LLC reiterated a “buy” rating and issued a $190.00 target price on shares of Wix.com in a research note on Wednesday, August 7th. Morgan Stanley lifted their price objective on shares of Wix.com from $143.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Finally, Barclays boosted their price target on Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.47.

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