J. Safra Sarasin Holding AG Sells 4,838 Shares of Wix.com Ltd. (NASDAQ:WIX)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Wix.com Ltd. by 30.9%, holding 10,797 shares valued at approximately $1.76 million after selling 4,838 shares in the first quarter.
• Brokerages have issued mixed reports on Wix, with Bank of America and UBS Group lowering their target prices to $230, while Baird raised its rating to a "strong-buy".
• Despite recent stake reduction by some investors, hedge funds and institutional investors collectively own 81.52% of Wix's stock, highlighting strong interest in the company.

J. Safra Sarasin Holding AG cut its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,797 shares of the information services provider's stock after selling 4,838 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Wix.com were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TD Private Client Wealth LLC raised its position in Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after purchasing an additional 308 shares in the last quarter. Versant Capital Management Inc increased its holdings in Wix.com by 676.1% during the 1st quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock valued at $117,000 after purchasing an additional 622 shares during the period. Tower Research Capital LLC TRC boosted its position in Wix.com by 44.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock valued at $135,000 after acquiring an additional 193 shares in the last quarter. Bessemer Group Inc. boosted its position in Wix.com by 9.7% during the 4th quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock valued at $188,000 after acquiring an additional 77 shares in the last quarter. Finally, Ellevest Inc. bought a new stake in Wix.com during the 4th quarter valued at approximately $204,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WIX shares. Benchmark dropped their price target on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. B. Riley reiterated a "buy" rating and set a $230.00 target price (down from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. UBS Group reduced their price objective on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday, June 18th. Finally, Piper Sandler dropped their price objective on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com presently has an average rating of "Buy" and a consensus target price of $228.95.

Wix.com Stock Performance

Shares of Wix.com stock traded down $3.35 during trading hours on Tuesday, reaching $128.09. The company's stock had a trading volume of 2,568,871 shares, compared to its average volume of 810,919. The company's 50 day simple moving average is $153.26 and its 200 day simple moving average is $174.43. Wix.com Ltd. has a one year low of $126.22 and a one year high of $247.11. The stock has a market cap of $7.19 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27.

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.