Coronation Fund Managers Ltd. Sells 1,559 Shares of Wix.com Ltd. (NASDAQ:WIX)

Coronation Fund Managers Ltd. decreased its stake in Wix.com Ltd. (NASDAQ:WIX) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,094 shares of the information services provider’s stock after selling 1,559 shares during the period. Coronation Fund Managers Ltd.’s holdings in Wix.com were worth $2,075,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Wix.com by 10.7% during the 4th 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 last quarter. Clearbridge Investments LLC grew its holdings in shares of Wix.com by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock valued at $140,710,000 after purchasing an additional 57,090 shares during the last quarter. Senvest Management LLC grew its holdings in shares of Wix.com by 27.4% during the 4th quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock valued at $94,995,000 after purchasing an additional 166,254 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Wix.com by 4.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,470 shares of the information services provider’s stock valued at $37,087,000 after purchasing an additional 11,913 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Wix.com by 7.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 282,116 shares of the information services provider’s stock valued at $34,706,000 after purchasing an additional 19,104 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WIX. UBS Group increased their target price on shares of Wix.com from $160.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group increased their price target on shares of Wix.com from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, May 20th. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, May 25th. Citigroup increased their price target on shares of Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, JMP Securities increased their price target on shares of Wix.com from $150.00 to $180.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Wix.com has an average rating of “Moderate Buy” and a consensus price target of $175.59.

Wix.com Price Performance

NASDAQ WIX traded up $6.22 during trading hours on Wednesday, reaching $163.01. 668,122 shares of the company’s stock traded hands, compared to its average volume of 632,553. Wix.com Ltd. has a 52-week low of $75.40 and a 52-week high of $178.65. The firm has a market cap of $9.32 billion, a PE ratio of 137.54, a PEG ratio of 3.68 and a beta of 1.47. The firm has a 50-day simple moving average of $153.38 and a 200 day simple moving average of $138.28.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The company had revenue of $419.78 million during the quarter, compared to analysts’ expectations of $417.71 million. Sell-side analysts forecast that Wix.com Ltd. will post 1.91 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.