Virtus Advisers LLC Buys 18,414 Shares of Wix.com Ltd. $WIX

Virtus Advisers LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,414 shares of the information services provider’s stock, valued at approximately $1,328,000.

Several other large investors have also added to or reduced their stakes in the company. Senvest Management LLC raised its stake in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after buying an additional 746,200 shares during the last quarter. Hsbc Holdings PLC boosted its position in Wix.com by 11,894.0% in the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Wix.com by 57.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after purchasing an additional 578,729 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of Wix.com by 7,102.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after purchasing an additional 685,614 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Wix.com by 52.1% during the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after purchasing an additional 197,200 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

WIX stock traded up $1.27 during mid-day trading on Friday, reaching $67.17. 461,053 shares of the company’s stock were exchanged, compared to its average volume of 866,394. The company has a market cap of $3.92 billion, a price-to-earnings ratio of -17.45, a price-to-earnings-growth ratio of 43.60 and a beta of 1.06. The stock’s 50 day moving average is $75.79 and its 200 day moving average is $70.00. Wix.com Ltd. has a 12-month low of $40.16 and a 12-month high of $129.40.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.54%. The business had revenue of $570.17 million during the quarter, compared to analysts’ expectations of $566.27 million. During the same period in the previous year, the business earned $1.80 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that Wix.com Ltd. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Wix.com

In other news, Director Ron Gutler sold 5,718 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.42, for a total transaction of $488,431.56. Following the completion of the sale, the director owned 15,631 shares of the company’s stock, valued at $1,335,200.02. The trade was a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avishai Abrahami bought 654 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $59.89 per share, with a total value of $39,168.06. Following the purchase, the chief executive officer directly owned 486,225 shares of the company’s stock, valued at approximately $29,120,015.25. This represents a 0.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 2,622 shares of company stock valued at $157,032. Insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

WIX has been the subject of several recent research reports. Evercore set a $95.00 target price on shares of Wix.com in a report on Tuesday, August 4th. Royal Bank Of Canada lowered their price target on shares of Wix.com from $60.00 to $58.00 and set a “sector perform” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price target on shares of Wix.com from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup dropped their price target on shares of Wix.com from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC lifted their price objective on shares of Wix.com from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Wix.com has an average rating of “Hold” and a consensus target price of $89.52.

About Wix.com

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.