GAM Holding AG Sells 3,250 Shares of Wix.com Ltd. (NASDAQ:WIX)

GAM Holding AG lessened its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,741 shares of the information services provider's stock after selling 3,250 shares during the period. GAM Holding AG's holdings in Wix.com were worth $1,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WIX. Blue Trust Inc. raised its stake in shares of Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after buying an additional 98 shares in the last quarter. CWM LLC increased its holdings in shares of Wix.com by 19.0% in 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 in the last quarter. Toronto Dominion Bank raised its position in shares of Wix.com by 19.0% during 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 during the period. CIBC Asset Management Inc grew its holdings in shares of Wix.com by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider's stock valued at $764,000 after acquiring an additional 136 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Wix.com by 4.7% in the second quarter. Signaturefd LLC now owns 3,269 shares of the information services provider's stock worth $520,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WIX. Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Barclays cut their price objective on shares of Wix.com from $186.00 to $184.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC restated a "buy" rating and issued a $190.00 target price on shares of Wix.com in a report on Wednesday, August 7th. KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They set a "sector weight" rating on the stock. Finally, StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and an average target price of $190.06.

Wix.com Price Performance

NASDAQ:WIX traded up $1.18 during trading hours on Wednesday, reaching $168.11. 2,748 shares of the stock were exchanged, compared to its average volume of 552,184. Wix.com Ltd. has a twelve month low of $76.90 and a twelve month high of $179.00. The stock has a market cap of $9.22 billion, a PE ratio of 132.49, a PEG ratio of 3.69 and a beta of 1.48. The firm has a 50 day moving average of $163.35 and a 200 day moving average of $154.59.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Wix.com Ltd. will post 2.1 earnings per share for the current 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.