Praesidium Investment Management Company LLC Trims Position in Wix.com Ltd. (NASDAQ:WIX)

Praesidium Investment Management Company LLC cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 283,925 shares of the information services provider’s stock after selling 8,781 shares during the quarter. Wix.com comprises 4.1% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 11th largest holding. Praesidium Investment Management Company LLC’s holdings in Wix.com were worth $79,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GWM Advisors LLC boosted its position in shares of Wix.com by 55.5% during the first quarter. GWM Advisors LLC now owns 3,850 shares of the information services provider’s stock valued at $1,075,000 after purchasing an additional 1,374 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Wix.com by 27.4% during the first quarter. Nuveen Asset Management LLC now owns 142,543 shares of the information services provider’s stock valued at $39,800,000 after purchasing an additional 30,632 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Wix.com by 13.0% during the first quarter. CIBC Asset Management Inc now owns 4,975 shares of the information services provider’s stock valued at $1,389,000 after purchasing an additional 572 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Wix.com by 11.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 10,140 shares of the information services provider’s stock valued at $2,831,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Castleark Management LLC boosted its position in shares of Wix.com by 30.9% during the fourth quarter. Castleark Management LLC now owns 9,250 shares of the information services provider’s stock valued at $2,312,000 after purchasing an additional 2,185 shares in the last quarter. 85.64% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on WIX. Rosenblatt Securities dropped their target price on Wix.com from $270.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 13th. Needham & Company LLC decreased their price target on Wix.com from $340.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, May 13th. Evercore ISI initiated coverage on Wix.com in a research note on Monday, April 5th. They issued an “outperform” rating and a $370.00 price target for the company. JMP Securities decreased their price target on Wix.com from $370.00 to $350.00 and set a “market outperform” rating for the company in a research note on Thursday, May 13th. Finally, Atlantic Securities initiated coverage on Wix.com in a research note on Tuesday, June 8th. They issued an “overweight” rating and a $300.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $323.18.

WIX traded up $6.75 during midday trading on Thursday, reaching $304.07. The company had a trading volume of 11,659 shares, compared to its average volume of 624,150. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 4.30. The company’s 50-day moving average price is $274.46. The firm has a market capitalization of $17.04 billion, a P/E ratio of -56.16 and a beta of 1.40. Wix.com Ltd. has a 1 year low of $213.12 and a 1 year high of $362.07.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 12th. The information services provider reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $1.00. Wix.com had a negative return on equity of 87.95% and a negative net margin of 27.78%. The firm had revenue of $304.10 million during the quarter, compared to analyst estimates of $295.05 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. Research analysts forecast that Wix.com Ltd. will post -4.13 EPS for the current fiscal year.

Wix.com Profile

Wix.com Ltd, together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application 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; and Corvid by Wix to create websites and web applications.

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Institutional Ownership by Quarter for Wix.com (NASDAQ:WIX)

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