Westfield Capital Management Co. LP Buys 110,739 Shares of Wix.com Ltd. (NASDAQ:WIX)

Key Points

• Westfield Capital Management Co. LP has increased its stake in Wix.com by 43.7%, now owning 364,332 shares valued at approximately $59.5 million.
• Wix.com shares experienced a 5.2% decline, trading at $128.97, with a 52-week low of $128.54 and a high of $247.11.
• Analysts have mixed ratings for Wix.com, with 18 buy ratings, 2 hold ratings, and 3 strong buy ratings, alongside an average target price of $228.95.

Westfield Capital Management Co. LP grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 43.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 364,332 shares of the information services provider's stock after acquiring an additional 110,739 shares during the period. Westfield Capital Management Co. LP owned about 0.65% of Wix.com worth $59,525,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WIX. Cumberland Partners Ltd grew its holdings in Wix.com by 15.2% in the first quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider's stock worth $3,104,000 after purchasing an additional 2,500 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Wix.com by 42.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,116 shares of the information services provider's stock valued at $836,000 after purchasing an additional 1,524 shares in the last quarter. US Bancorp DE raised its position in Wix.com by 25.1% in the first quarter. US Bancorp DE now owns 13,831 shares of the information services provider's stock worth $2,260,000 after acquiring an additional 2,774 shares during the period. Wealthquest Corp bought a new stake in Wix.com in the first quarter worth about $403,000. Finally, Bayforest Capital Ltd raised its position in Wix.com by 78.8% in the first quarter. Bayforest Capital Ltd now owns 1,291 shares of the information services provider's stock worth $211,000 after acquiring an additional 569 shares during the period. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Royal Bank Of Canada reduced their price objective on shares of Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Citigroup cut their price target on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Oppenheimer cut their price objective on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $173.00 to $216.00 in a research note on Monday, June 16th. Two 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, the stock has a consensus rating of "Buy" and a consensus target price of $227.74.

Wix.com Stock Up 0.3%

Shares of NASDAQ WIX traded up $0.40 during trading on Wednesday, reaching $128.49. 3,511,972 shares of the company traded hands, compared to its average volume of 916,901. The firm has a 50 day simple moving average of $152.79 and a 200-day simple moving average of $174.11. The stock has a market capitalization of $7.21 billion, a PE ratio of 51.19, a P/E/G ratio of 2.04 and a beta of 1.27. Wix.com Ltd. has a 52-week low of $126.22 and a 52-week high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.16% and a negative return on equity of 80.80%. The firm had revenue of $489.93 million for the quarter, compared to analysts' expectations of $487.62 million. During the same quarter in the prior year, the business earned $1.67 EPS. The business's quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

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.