Horrell Capital Management Inc. Sells 7,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Horrell Capital Management Inc. decreased its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 25.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the information services provider's stock after selling 7,000 shares during the period. Horrell Capital Management Inc.'s holdings in Wix.com were worth $3,343,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dorsal Capital Management LP boosted its position in shares of Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider's stock valued at $206,791,000 after acquiring an additional 250,000 shares during the period. Clearbridge Investments LLC boosted its position in shares of Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider's stock valued at $190,482,000 after acquiring an additional 33,338 shares during the period. Renaissance Technologies LLC boosted its position in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider's stock valued at $124,973,000 after acquiring an additional 171,500 shares during the period. Eminence Capital LP boosted its position in shares of Wix.com by 7.3% in the second quarter. Eminence Capital LP now owns 244,424 shares of the information services provider's stock valued at $38,881,000 after acquiring an additional 16,529 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Wix.com by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 112,500 shares of the information services provider's stock valued at $15,466,000 after acquiring an additional 796 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WIX shares. Needham & Company LLC reiterated a "buy" rating and set a $190.00 target price on shares of Wix.com in a research report on Wednesday, August 7th. KeyCorp started coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a "sector weight" rating for the company. Benchmark lifted their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday, October 7th. Finally, JMP Securities restated a "market outperform" rating and issued a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wix.com currently has a consensus rating of "Moderate Buy" and an average price target of $190.06.

Wix.com Stock Performance

Shares of NASDAQ WIX traded up $5.09 during mid-day trading on Tuesday, hitting $169.59. The stock had a trading volume of 341,186 shares, compared to its average volume of 547,705. The business has a 50 day moving average price of $163.32 and a two-hundred day moving average price of $155.45. The firm has a market cap of $9.70 billion, a P/E ratio of 145.68, a price-to-earnings-growth ratio of 3.49 and a beta of 1.48. Wix.com Ltd. has a 1 year low of $76.90 and a 1 year high of $179.00.

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