Teamwork Financial Advisors LLC trimmed its holdings in Wix.com Ltd. (NASDAQ:WIX) by 23.4% in the 1st quarter, HoldingsChannel reports. The firm owned 5,202 shares of the information services provider’s stock after selling 1,591 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Wix.com were worth $1,452,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Valeo Financial Advisors LLC boosted its position in shares of Wix.com by 18.4% during the 1st quarter. Valeo Financial Advisors LLC now owns 663 shares of the information services provider’s stock valued at $185,000 after acquiring an additional 103 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in shares of Wix.com during the 1st quarter valued at approximately $28,000. Koshinski Asset Management Inc. bought a new position in shares of Wix.com during the 4th quarter valued at approximately $2,050,000. TRU Independence Asset Management 2 LLC bought a new position in shares of Wix.com during the 4th quarter valued at approximately $245,000. Finally, Encompass Wealth Advisors LLC bought a new position in shares of Wix.com during the 4th quarter valued at approximately $245,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
A number of research firms have recently commented on WIX. Zacks Investment Research downgraded Wix.com from a “hold” rating to a “strong sell” rating and set a $286.00 target price for the company. in a research report on Wednesday, February 24th. Wedbush increased their target price on Wix.com from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Oppenheimer increased their target price on Wix.com from $300.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, February 18th. They noted that the move was a valuation call. Evercore ISI started coverage on Wix.com in a research report on Monday, April 5th. They set an “outperform” rating and a $370.00 target price for the company. Finally, Citigroup raised their price target on Wix.com from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seventeen have assigned a buy rating to the company’s stock. Wix.com presently has a consensus rating of “Buy” and a consensus target price of $315.11.
WIX stock traded down $7.45 during midday trading on Monday, reaching $290.73. The company’s stock had a trading volume of 8,295 shares, compared to its average volume of 692,753. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a fifty day simple moving average of $307.40 and a two-hundred day simple moving average of $273.93. Wix.com Ltd. has a 1 year low of $116.75 and a 1 year high of $362.07. The firm has a market capitalization of $16.29 billion, a price-to-earnings ratio of -112.46 and a beta of 1.64.
Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 17th. The information services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.77. The firm had revenue of $282.53 million for the quarter, compared to analyst estimates of $270.25 million. Wix.com had a negative return on equity of 46.89% and a negative net margin of 15.92%. As a group, analysts forecast that Wix.com Ltd. will post -3.2 EPS for the current fiscal year.
Wix.com Ltd., together with its subsidiaries, develops and markets cloud-based platform products and services in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; Editor X, a website creation platform; and Velo by Wix to create websites and web applications.
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