Tandem Capital Management Corp ADV Grows Position in Wix.com Ltd. (NASDAQ:WIX)

Tandem Capital Management Corp ADV lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,022 shares of the information services provider’s stock after buying an additional 300 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Wix.com were worth $565,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of WIX. Amundi Pioneer Asset Management Inc. raised its stake in shares of Wix.com by 202.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider’s stock worth $255,000 after buying an additional 1,413 shares in the last quarter. Comerica Bank increased its stake in Wix.com by 11.5% during the fourth quarter. Comerica Bank now owns 4,825 shares of the information services provider’s stock valued at $1,204,000 after acquiring an additional 498 shares during the period. Parallel Advisors LLC increased its stake in Wix.com by 144.4% during the fourth quarter. Parallel Advisors LLC now owns 110 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 65 shares during the period. First Trust Advisors LP increased its stake in Wix.com by 84.2% during the fourth quarter. First Trust Advisors LP now owns 32,461 shares of the information services provider’s stock valued at $8,114,000 after acquiring an additional 14,837 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Wix.com by 5.5% in the 4th quarter. California Public Employees Retirement System now owns 115,819 shares of the information services provider’s stock valued at $28,950,000 after purchasing an additional 6,018 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Wix.com stock traded up $6.32 during trading hours on Friday, hitting $278.19. The stock had a trading volume of 8,963 shares, compared to its average volume of 738,792. The stock has a 50-day simple moving average of $276.72. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $15.59 billion, a PE ratio of -50.53 and a beta of 1.38. Wix.com Ltd. has a 12-month low of $209.00 and a 12-month high of $362.07.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 12th. The information services provider reported ($0.54) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.54) by $1.00. Wix.com had a negative net margin of 27.78% and a negative return on equity of 87.95%. The business had revenue of $304.10 million for the quarter, compared to analysts’ expectations of $295.05 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The business’s revenue was up 40.8% compared to the same quarter last year. As a group, equities analysts forecast that Wix.com Ltd. will post -4.13 earnings per share for the current fiscal year.

Several brokerages recently commented on WIX. Rosenblatt Securities dropped their price objective on Wix.com from $270.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 13th. Citigroup lifted their price target on shares of Wix.com from $330.00 to $360.00 in a research report on Thursday, February 18th. Atlantic Securities initiated coverage on shares of Wix.com in a research report on Tuesday. They issued an “overweight” rating and a $300.00 price target for the company. Barclays dropped their price target on shares of Wix.com from $340.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, May 13th. Finally, Evercore ISI initiated coverage on shares of Wix.com in a research report on Monday, April 5th. They issued an “outperform” rating and a $370.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $323.06.

About Wix.com

Wix.com Ltd, together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.

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Institutional Ownership by Quarter for Wix.com (NASDAQ:WIX)

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