Los Angeles Capital Management LLC Sells 77,264 Shares of Wix.com Ltd. (NASDAQ:WIX)

Los Angeles Capital Management LLC lessened its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 54.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,075 shares of the information services provider's stock after selling 77,264 shares during the quarter. Los Angeles Capital Management LLC owned about 0.11% of Wix.com worth $8,006,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new stake in Wix.com in the 4th quarter valued at $26,000. BluePath Capital Management LLC purchased a new position in Wix.com during the third quarter worth about $37,000. Headlands Technologies LLC purchased a new stake in shares of Wix.com in the 3rd quarter valued at approximately $45,000. Algert Global LLC acquired a new stake in shares of Wix.com during the 3rd quarter worth approximately $214,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Wix.com by 5.5% during 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 period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley lowered their price objective on Wix.com from $157.00 to $143.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 17th. Barclays boosted their price objective on shares of Wix.com from $147.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. B. Riley increased their target price on shares of Wix.com from $120.00 to $141.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Wix.com in a research report on Wednesday, February 21st. Finally, Raymond James assumed coverage on shares of Wix.com in a report on Wednesday, March 27th. They issued an "outperform" rating and a $160.00 price objective on the stock. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $144.29.

Wix.com Stock Performance

WIX stock traded up $0.30 during mid-day trading on Friday, reaching $119.83. The company had a trading volume of 329,683 shares, compared to its average volume of 416,246. Wix.com Ltd. has a fifty-two week low of $73.39 and a fifty-two week high of $146.21. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 217.87, a price-to-earnings-growth ratio of 4.12 and a beta of 1.34. The firm has a fifty day simple moving average of $132.69 and a 200 day simple moving average of $118.82.

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

About Wix.com

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.