WCM Investment Management LLC Sells 7,873 Shares of Wix.com Ltd. (NASDAQ:WIX)

WCM Investment Management LLC lowered its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,765 shares of the information services provider's stock after selling 7,873 shares during the quarter. WCM Investment Management LLC owned 0.05% of Wix.com worth $4,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the period. Durable Capital Partners LP purchased a new position in shares of Wix.com during the 4th quarter valued at $89,839,000. Whale Rock Capital Management LLC raised its position in shares of Wix.com by 55.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock valued at $229,904,000 after purchasing an additional 380,800 shares during the period. Assenagon Asset Management S.A. grew its stake in 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 in the last quarter. Finally, Senvest Management LLC lifted its position in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock worth $305,260,000 after acquiring an additional 304,712 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Down 0.2%

NASDAQ:WIX traded down $0.41 during midday trading on Thursday, hitting $164.17. 495,341 shares of the company traded hands, compared to its average volume of 688,714. The firm has a market capitalization of $9.21 billion, a P/E ratio of 65.41, a P/E/G ratio of 2.57 and a beta of 1.31. The firm's fifty day moving average is $162.15 and its 200-day moving average is $186.53. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WIX shares. JMP Securities reaffirmed a "market outperform" rating and issued a $250.00 price target on shares of Wix.com in a report on Friday, June 20th. Royal Bank Of Canada reduced their target price on Wix.com from $245.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. UBS Group cut their price objective on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. B. Riley reissued a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Finally, Cfra Research lowered shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $228.95.

Wix.com 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.