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

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 70.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,680 shares of the information services provider’s stock after selling 4,080 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Wix.com were worth $207,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Cumberland Partners Ltd grew its holdings in shares of Wix.com by 80.0% during the fourth quarter. Cumberland Partners Ltd now owns 9,000 shares of the information services provider’s stock worth $1,107,000 after buying an additional 4,000 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Wix.com by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 139,550 shares of the information services provider’s stock worth $17,167,000 after buying an additional 3,596 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Wix.com by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 9,572 shares of the information services provider’s stock valued at $1,178,000 after acquiring an additional 1,493 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Wix.com by 6.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider’s stock valued at $32,851,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Wix.com by 73.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,068 shares of the information services provider’s stock valued at $4,191,000 after acquiring an additional 14,405 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WIX shares. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Wix.com in a research report on Wednesday, February 21st. Barclays boosted their price target 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. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Benchmark upped their target price 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. Finally, Raymond James began coverage on shares of Wix.com in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 target price on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $120.81 on Friday. The firm has a market capitalization of $6.72 billion, a PE ratio of 219.65, a price-to-earnings-growth ratio of 4.16 and a beta of 1.33. The firm’s 50-day moving average is $133.83 and its two-hundred day moving average is $117.37. Wix.com Ltd. has a 1 year low of $73.39 and a 1 year high of $146.21.

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

Wix.com 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.