VELA Investment Management LLC Has $1.81 Million Position in Wix.com Ltd. (NASDAQ:WIX)

VELA Investment Management LLC increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,797 shares of the information services provider’s stock after acquiring an additional 1,974 shares during the quarter. VELA Investment Management LLC’s holdings in Wix.com were worth $1,805,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WIX. Blue Trust Inc. boosted its holdings in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Wix.com during the first quarter worth about $37,000. CWM LLC boosted its holdings in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after buying an additional 101 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WIX shares. KeyCorp started coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating on the stock. Barclays cut their price objective on Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $190.00 price objective on shares of Wix.com in a report on Wednesday, August 7th. Benchmark lifted their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, UBS Group lifted their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Stock Down 1.9 %

Shares of WIX stock traded down $3.18 during trading on Friday, reaching $163.94. 396,585 shares of the company’s stock were exchanged, compared to its average volume of 360,758. The stock has a market capitalization of $8.99 billion, a PE ratio of 130.11, a PEG ratio of 3.56 and a beta of 1.47. Wix.com Ltd. has a twelve month low of $80.10 and a twelve month high of $179.00. The firm’s fifty day moving average price is $163.24 and its 200-day moving average price is $156.19.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. As a group, analysts anticipate that Wix.com Ltd. will post 2.1 EPS 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.