Eminence Capital LP Raises Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Eminence Capital LP increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 244,424 shares of the information services provider’s stock after acquiring an additional 16,529 shares during the quarter. Eminence Capital LP’s holdings in Wix.com were worth $38,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Wix.com during the fourth quarter worth $34,554,000. US Bancorp DE boosted its position in shares of Wix.com by 105.8% during the 4th quarter. US Bancorp DE now owns 7,076 shares of the information services provider’s stock valued at $870,000 after acquiring an additional 3,637 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Wix.com by 2.7% during the 4th quarter. TD Asset Management Inc now owns 14,913 shares of the information services provider’s stock valued at $1,835,000 after acquiring an additional 386 shares during the last quarter. California State Teachers Retirement System lifted its position in Wix.com by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 51,110 shares of the information services provider’s stock valued at $6,288,000 after buying an additional 1,026 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new position in Wix.com in the fourth quarter valued at about $1,336,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 3.3 %

Shares of WIX opened at $169.74 on Thursday. The company’s 50 day simple moving average is $160.54 and its 200-day simple moving average is $150.83. Wix.com Ltd. has a 12-month low of $76.90 and a 12-month high of $178.65. The firm has a market cap of $9.31 billion, a PE ratio of 148.90, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same period last year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Wix.com Ltd. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WIX has been the topic of a number of recent analyst reports. Bank of America upped their target price on shares of Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. upped their target price on shares of Wix.com from $148.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th. KeyCorp started coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.19.

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.