Mackenzie Financial Corp Cuts Position in Wix.com Ltd. (NASDAQ:WIX)

Mackenzie Financial Corp lowered its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,214 shares of the information services provider's stock after selling 10,790 shares during the quarter. Mackenzie Financial Corp owned 0.09% of Wix.com worth $6,300,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in Wix.com by 5.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider's stock valued at $226,000 after buying an additional 129 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Wix.com by 21.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 763 shares of the information services provider's stock valued at $56,000 after purchasing an additional 136 shares in the last quarter. First Republic Investment Management Inc. grew its stake in Wix.com by 2.7% in the second quarter. First Republic Investment Management Inc. now owns 6,310 shares of the information services provider's stock valued at $414,000 after purchasing an additional 167 shares in the last quarter. HighMark Wealth Management LLC bought a new position in Wix.com in the fourth quarter valued at approximately $26,000. Finally, Alliancebernstein L.P. grew its stake in Wix.com by 0.8% in the third quarter. Alliancebernstein L.P. now owns 34,442 shares of the information services provider's stock valued at $2,694,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on WIX shares. Morgan Stanley decreased their price target on Wix.com from $157.00 to $143.00 and set an "equal weight" rating for the company in a research note on Wednesday. Raymond James began coverage on Wix.com in a research note on Wednesday, March 27th. They issued an "outperform" rating and a $160.00 price target for the company. Piper Sandler lifted their target price on Wix.com from $146.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their target price on Wix.com from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Thursday, February 22nd. Finally, Barclays lifted their target price on Wix.com from $147.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.29.

Wix.com Stock Performance

NASDAQ:WIX traded down $0.36 during mid-day trading on Friday, hitting $121.41. 470,328 shares of the stock were exchanged, compared to its average volume of 351,136. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 220.75, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. The firm's 50-day simple moving average is $134.44 and its 200 day simple moving average is $116.38. Wix.com Ltd. has a fifty-two week low of $73.39 and a fifty-two week high of $146.21.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to analysts' expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.42) EPS. On average, analysts predict that Wix.com Ltd. will post 1.16 EPS for the current fiscal year.

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.