VELA Investment Management LLC Purchases 1,974 Shares of Wix.com Ltd. (NASDAQ:WIX)

VELA Investment Management LLC lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 22.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,797 shares of the information services provider’s stock after acquiring an additional 1,974 shares during the period. VELA Investment Management LLC’s holdings in Wix.com were worth $1,805,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Wix.com during the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. increased 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 valued at $94,000 after buying an additional 488 shares during the last quarter. CWM LLC increased 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 valued at $106,000 after buying an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a report on Monday, October 7th. UBS Group upped their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp started coverage on shares of Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating on the stock. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Stock Down 1.9 %

WIX stock traded down $3.18 during mid-day trading on Friday, reaching $163.94. The company had a trading volume of 396,585 shares, compared to its average volume of 360,758. The stock has a market capitalization of $8.99 billion, a P/E ratio of 130.11, a P/E/G ratio of 3.56 and a beta of 1.47. Wix.com Ltd. has a one year low of $80.10 and a one year high of $179.00. The stock’s 50-day simple moving average is $163.24 and its two-hundred day simple moving average is $156.19.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. On average, research analysts forecast 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.