BlackRock Inc. Decreases Holdings in Wix.com Ltd. (NASDAQ:WIX)

BlackRock Inc. trimmed its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,855,426 shares of the information services provider’s stock after selling 128,045 shares during the period. BlackRock Inc. owned 0.10% of Wix.com worth $1,147,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WIX. Flossbach Von Storch AG lifted its holdings in Wix.com by 17.5% during the third quarter. Flossbach Von Storch AG now owns 3,689,918 shares of the information services provider’s stock valued at $723,113,000 after purchasing an additional 548,569 shares in the last quarter. Marcho Partners LLP acquired a new stake in shares of Wix.com in the second quarter valued at about $152,806,000. Deutsche Bank AG raised its position in shares of Wix.com by 431.9% in the second quarter. Deutsche Bank AG now owns 481,425 shares of the information services provider’s stock valued at $139,748,000 after buying an additional 390,914 shares during the last quarter. Legal & General Group Plc raised its position in shares of Wix.com by 61.4% in the second quarter. Legal & General Group Plc now owns 641,651 shares of the information services provider’s stock valued at $186,258,000 after buying an additional 244,172 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Wix.com by 8.2% in the third quarter. Principal Financial Group Inc. now owns 2,952,822 shares of the information services provider’s stock valued at $578,664,000 after buying an additional 223,822 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ WIX opened at $138.04 on Friday. The firm has a 50 day simple moving average of $159.51 and a 200-day simple moving average of $207.38. The company has a debt-to-equity ratio of 4.71, a quick ratio of 1.83 and a current ratio of 1.83. Wix.com Ltd. has a one year low of $133.00 and a one year high of $362.07. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of -57.28 and a beta of 1.29.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Thursday, November 11th. The information services provider reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.33) by $1.12. Wix.com had a negative net margin of 10.61% and a negative return on equity of 67.18%. The business had revenue of $320.80 million during the quarter, compared to analyst estimates of $314.83 million. During the same quarter last year, the firm posted ($0.84) earnings per share. Equities analysts predict that Wix.com Ltd. will post -4.86 EPS for the current fiscal year.

A number of brokerages have recently commented on WIX. Royal Bank of Canada cut shares of Wix.com from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $270.00 to $210.00 in a research report on Thursday, October 21st. JMP Securities cut their price objective on shares of Wix.com from $282.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, November 22nd. Needham & Company LLC cut their price objective on shares of Wix.com from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 12th. Barclays cut their price objective on shares of Wix.com from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, November 12th. Finally, Piper Sandler cut their price objective on shares of Wix.com from $218.00 to $156.00 and set a “neutral” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $270.37.

About Wix.com

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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