Wix.Com Ltd (WIX) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN lowered its position in shares of Wix.Com Ltd (NASDAQ:WIX) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,284 shares of the information services provider’s stock after selling 21,193 shares during the quarter. Wells Fargo & Company MN’s holdings in Wix.Com were worth $16,074,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. acquired a new position in shares of Wix.Com during the second quarter valued at approximately $104,000. Advisory Services Network LLC acquired a new stake in shares of Wix.Com in the second quarter valued at approximately $115,000. Fortis Advisors LLC acquired a new stake in shares of Wix.Com in the second quarter valued at approximately $150,000. Global X Management Co LLC acquired a new stake in shares of Wix.Com in the second quarter valued at approximately $181,000. Finally, Cumberland Partners Ltd acquired a new stake in shares of Wix.Com in the second quarter valued at approximately $201,000. 85.91% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Royal Bank of Canada raised Wix.Com from a “sector perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Wednesday, November 21st. They noted that the move was a valuation call. Rosenblatt Securities set a $75.00 price target on Wix.Com and gave the company a “hold” rating in a report on Wednesday, November 14th. ValuEngine cut Wix.Com from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. JMP Securities cut their price target on Wix.Com from $125.00 to $112.00 and set a “market outperform” rating for the company in a report on Wednesday, November 14th. Finally, JPMorgan Chase & Co. cut their price target on Wix.Com from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, November 14th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $104.24.
Wix.Com (NASDAQ:WIX) last issued its quarterly earnings data on Tuesday, November 13th. The information services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.49. The company had revenue of $155.60 million during the quarter, compared to analyst estimates of $152.78 million. Wix.Com had a negative return on equity of 38.70% and a negative net margin of 6.80%. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. Equities research analysts predict that Wix.Com Ltd will post -0.49 EPS for the current year.
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.
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