Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors reduced its stake in Wix.com Ltd. by 73.4% during Q1, holding 1,912 shares valued at $312,000.
• Wix.com has been reviewed by multiple analyst firms, with ratings including "buy" and "outperform," while target prices have been adjusted downward by firms like Morgan Stanley and JPMorgan Chase.
• Wix.com reported a quarterly earnings per share (EPS) of $2.28, exceeding expectations, with a year-over-year revenue increase of 12.4% to $489.93 million.

Arkadios Wealth Advisors reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 73.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,912 shares of the information services provider's stock after selling 5,281 shares during the quarter. Arkadios Wealth Advisors' holdings in Wix.com were worth $312,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Durable Capital Partners LP purchased a new position in Wix.com during the fourth quarter worth about $89,839,000. Whale Rock Capital Management LLC raised its stake in shares of Wix.com by 55.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock worth $229,904,000 after buying an additional 380,800 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Wix.com by 1,209.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider's stock valued at $56,319,000 after buying an additional 318,387 shares during the period. Senvest Management LLC boosted its stake in shares of Wix.com by 27.3% in the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after buying an additional 304,712 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Wix.com by 93.8% during the fourth quarter. Two Sigma Investments LP now owns 345,389 shares of the information services provider's stock worth $74,103,000 after acquiring an additional 167,143 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Up 3.9%

Shares of WIX traded up $5.00 during mid-day trading on Thursday, reaching $133.49. 3,355,455 shares of the stock traded hands, compared to its average volume of 933,459. The stock has a fifty day simple moving average of $152.44 and a 200 day simple moving average of $173.37. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 2.04 and a beta of 1.27. Wix.com Ltd. has a 12-month low of $126.22 and a 12-month high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 80.80% and a net margin of 8.16%. The company had revenue of $489.93 million during the quarter, compared to analysts' expectations of $487.62 million. During the same period in the prior year, the business posted $1.67 EPS. The business's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WIX shares. Royal Bank Of Canada decreased their target price on shares of Wix.com from $245.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Benchmark dropped their target price on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a report on Monday, May 19th. Raymond James Financial reissued a "strong-buy" rating on shares of Wix.com in a research note on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a research note on Wednesday, June 18th. Finally, Morgan Stanley decreased their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $218.26.

Wix.com Company 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.