ARK Investment Management LLC Sells 352 Shares of Wix.Com Ltd (NASDAQ:WIX)

ARK Investment Management LLC cut its holdings in Wix.Com Ltd (NASDAQ:WIX) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,523 shares of the information services provider’s stock after selling 352 shares during the quarter. ARK Investment Management LLC’s holdings in Wix.Com were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WIX. Quadrant Capital Group LLC increased its position in Wix.Com by 20.9% during the first quarter. Quadrant Capital Group LLC now owns 463 shares of the information services provider’s stock worth $54,000 after acquiring an additional 80 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Wix.Com by 4.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 3,860 shares of the information services provider’s stock worth $466,000 after buying an additional 149 shares in the last quarter. Pendal Group Ltd boosted its stake in Wix.Com by 5.6% during the first quarter. Pendal Group Ltd now owns 3,475 shares of the information services provider’s stock worth $420,000 after buying an additional 185 shares in the last quarter. Keybank National Association OH boosted its stake in Wix.Com by 8.7% during the fourth quarter. Keybank National Association OH now owns 4,206 shares of the information services provider’s stock worth $380,000 after buying an additional 338 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in Wix.Com by 2.5% during the first quarter. Public Employees Retirement Association of Colorado now owns 14,158 shares of the information services provider’s stock worth $1,711,000 after buying an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.

Shares of WIX stock traded up $1.15 on Friday, reaching $142.10. The company had a trading volume of 304,706 shares, compared to its average volume of 672,944. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $7.09 billion, a PE ratio of -322.95 and a beta of 1.63. The stock’s 50-day simple moving average is $140.71. Wix.Com Ltd has a 12 month low of $80.20 and a 12 month high of $149.59.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings results on Thursday, May 16th. The information services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.30. The company had revenue of $174.29 million during the quarter, compared to analysts’ expectations of $172.98 million. Wix.Com had a negative return on equity of 19.47% and a negative net margin of 7.51%. Wix.Com’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Analysts anticipate that Wix.Com Ltd will post -1.34 EPS for the current year.

WIX has been the topic of a number of recent research reports. Wedbush set a $142.00 price target on shares of Wix.Com and gave the stock a “buy” rating in a research note on Friday, April 12th. Zacks Investment Research upgraded shares of Wix.Com from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Saturday, May 11th. Guggenheim started coverage on shares of Wix.Com in a research note on Tuesday, March 19th. They issued a “buy” rating and a $108.89 target price on the stock. SunTrust Banks boosted their target price on shares of Wix.Com to $154.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Citigroup boosted their target price on shares of Wix.Com from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $128.42.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

Read More: Asset Allocation

Institutional Ownership by Quarter for Wix.Com (NASDAQ:WIX)

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