GAM Holding AG Trims Holdings in Wix.com Ltd. (NASDAQ:WIX)

GAM Holding AG decreased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 25.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,741 shares of the information services provider’s stock after selling 3,250 shares during the quarter. GAM Holding AG’s holdings in Wix.com were worth $1,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Wix.com by 416.5% in the 1st quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock valued at $11,061,000 after buying an additional 64,878 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Wix.com by 36.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock worth $4,318,000 after purchasing an additional 8,422 shares during the period. iA Global Asset Management Inc. grew its stake in shares of Wix.com by 176.5% during the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock worth $2,246,000 after purchasing an additional 10,427 shares during the period. Quadrature Capital Ltd grew its stake in shares of Wix.com by 65.1% during the 1st quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock worth $3,095,000 after purchasing an additional 8,879 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Wix.com during the 1st quarter worth $5,197,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 3.2 %

Shares of NASDAQ:WIX opened at $166.93 on Wednesday. Wix.com Ltd. has a 52-week low of $76.90 and a 52-week high of $179.00. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 132.49, a price-to-earnings-growth ratio of 3.69 and a beta of 1.48. The company has a 50 day moving average of $163.35 and a two-hundred day moving average of $154.59.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same quarter last year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Wix.com Ltd. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WIX. Needham & Company LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Barclays decreased their price objective on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Benchmark boosted their price objective on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

About Wix.com

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.