Eqis Capital Management Inc. Buys New Stake in Wix.com Ltd. (NASDAQ:WIX)

Eqis Capital Management Inc. purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,016 shares of the information services provider’s stock, valued at approximately $1,456,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. increased its stake in Wix.com by 202.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider’s stock worth $255,000 after acquiring an additional 1,413 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Wix.com by 4.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,197 shares of the information services provider’s stock valued at $1,171,000 after purchasing an additional 188 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Wix.com by 23.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 19,626 shares of the information services provider’s stock valued at $5,480,000 after buying an additional 3,686 shares during the period. Alliancebernstein L.P. lifted its position in Wix.com by 55.9% in the first quarter. Alliancebernstein L.P. now owns 23,564 shares of the information services provider’s stock worth $6,580,000 after buying an additional 8,454 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Wix.com by 32.9% during the first quarter. Fifth Third Bancorp now owns 803 shares of the information services provider’s stock worth $224,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 91.39% of the company’s stock.

Wix.com stock opened at $206.89 on Friday. The business’s 50-day simple moving average is $241.87 and its two-hundred day simple moving average is $268.96. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $11.59 billion, a PE ratio of -55.62 and a beta of 1.35. Wix.com Ltd. has a fifty-two week low of $196.19 and a fifty-two week high of $362.07.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 11th. The information services provider reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.74. Wix.com had a negative return on equity of 86.14% and a negative net margin of 17.58%. The firm had revenue of $316.41 million during the quarter, compared to the consensus estimate of $311.48 million. As a group, analysts predict that Wix.com Ltd. will post -4.58 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on WIX shares. JMP Securities lowered their target price on shares of Wix.com from $350.00 to $282.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. Barclays downgraded shares of Wix.com from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $290.00 to $280.00 in a research note on Monday, June 28th. Guggenheim cut their target price on Wix.com from $350.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, August 12th. Rosenblatt Securities lowered their price target on Wix.com from $250.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, August 12th. Finally, Needham & Company LLC decreased their price objective on Wix.com from $310.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, August 12th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $288.45.

Wix.com Profile

Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.

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

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