Seven Eight Capital LP Has $1.77 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

Seven Eight Capital LP increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 107.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,132 shares of the information services provider’s stock after purchasing an additional 5,777 shares during the quarter. Seven Eight Capital LP’s holdings in Wix.com were worth $1,771,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its stake in shares of Wix.com by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after buying an additional 136 shares during the last quarter. Signaturefd LLC grew its stake in shares of Wix.com by 4.7% in the second quarter. Signaturefd LLC now owns 3,269 shares of the information services provider’s stock valued at $520,000 after buying an additional 146 shares in the last quarter. Northwest Bank & Trust Co acquired a new stake in Wix.com in the fourth quarter valued at $26,000. DekaBank Deutsche Girozentrale lifted its stake in Wix.com by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 215 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 0.4 %

Shares of WIX opened at $159.54 on Thursday. The business has a 50-day simple moving average of $160.64 and a two-hundred day simple moving average of $149.98. Wix.com Ltd. has a 12-month low of $76.90 and a 12-month high of $178.65. The stock has a market cap of $8.75 billion, a PE ratio of 139.95, a PEG ratio of 3.47 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. During the same quarter last year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Wix.com Ltd. will post 2.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WIX. Benchmark raised their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. KeyCorp assumed coverage on Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating for the company. UBS Group boosted their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler restated a “neutral” rating and issued a $184.00 price target on shares of Wix.com in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $190.00 price objective on shares of Wix.com in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.19.

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.