Sei Investments Co. Cuts Holdings in Wix.com Ltd. (NASDAQ:WIX)

Sei Investments Co. reduced its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 40.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,647 shares of the information services provider’s stock after selling 158,225 shares during the quarter. Sei Investments Co. owned 0.42% of Wix.com worth $36,371,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Wix.com by 10.7% in the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock valued at $148,942,000 after purchasing an additional 117,146 shares during the period. Clearbridge Investments LLC increased its holdings in Wix.com by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,164,136 shares of the information services provider’s stock worth $160,045,000 after acquiring an additional 20,342 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Norges Bank acquired a new position in Wix.com during the fourth quarter worth $34,554,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Wix.com by 328.5% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock valued at $22,144,000 after purchasing an additional 137,991 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on WIX shares. Bank of America upped their price target on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Wix.com in a research report on Monday. Benchmark raised their price objective on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, UBS Group increased their target price on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.19.

Wix.com Stock Up 2.0 %

Wix.com stock opened at $163.87 on Tuesday. Wix.com Ltd. has a 52-week low of $76.90 and a 52-week high of $178.65. The firm has a market cap of $9.37 billion, a PE ratio of 143.75, a price-to-earnings-growth ratio of 3.47 and a beta of 1.47. The company’s 50 day moving average is $160.45 and its two-hundred day moving average is $150.52.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities research analysts anticipate that Wix.com Ltd. will post 2.01 earnings per share for the current fiscal 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.