Bank Julius Baer & Co. Ltd Zurich Trims Position in Wix.com Ltd. (NASDAQ:WIX)

Bank Julius Baer & Co. Ltd Zurich cut its position in Wix.com Ltd. (NASDAQ:WIX) by 70.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680 shares of the information services provider’s stock after selling 4,080 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Wix.com were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WIX. Commonwealth Equity Services LLC bought a new position in shares of Wix.com during the third quarter worth $311,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in Wix.com during the third quarter valued at $1,331,000. Cambridge Investment Research Advisors Inc. bought a new position in Wix.com during the third quarter valued at $799,000. BluePath Capital Management LLC bought a new position in Wix.com during the third quarter valued at $37,000. Finally, Mackenzie Financial Corp lifted its position in Wix.com by 543.6% during the third quarter. Mackenzie Financial Corp now owns 62,004 shares of the information services provider’s stock valued at $5,425,000 after purchasing an additional 52,370 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

WIX stock opened at $120.81 on Friday. The company has a market capitalization of $6.72 billion, a PE ratio of 219.65, a P/E/G ratio of 4.16 and a beta of 1.33. Wix.com Ltd. has a 12 month low of $73.39 and a 12 month high of $146.21. The firm’s 50-day moving average is $133.83 and its 200 day moving average is $117.37.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.98 by $0.24. The company had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) EPS. Sell-side analysts forecast that Wix.com Ltd. will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on WIX shares. Piper Sandler increased their price objective on shares of Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Raymond James started coverage on shares of Wix.com in a research report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price objective for the company. Benchmark increased their price objective on shares of Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Barclays increased their price objective on shares of Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada raised their target price on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Wix.com Company Profile

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.