Wix.com (NASDAQ:WIX) Stock Price Down 5.1% – Time to Sell?

Shares of Wix.com Ltd. (NASDAQ:WIX) traded down 5.1% during mid-day trading on Monday. The stock traded as low as $72.71 and last traded at $72.2460. 167,680 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,913,123 shares. The stock had previously closed at $76.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WIX shares. Raymond James Financial downgraded shares of Wix.com from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $75.00 to $70.00 in a report on Thursday, July 30th. UBS Group set a $110.00 price objective on shares of Wix.com in a report on Monday, October 26th. Royal Bank Of Canada upped their target price on Wix.com from $45.00 to $60.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Needham & Company LLC lifted their price objective on shares of Wix.com from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Finally, Wedbush boosted their target price on shares of Wix.com from $55.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $93.43.

Wix.com Price Performance

The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -20.56, a price-to-earnings-growth ratio of 36.17 and a beta of 1.06. The business has a fifty day moving average price of $77.72 and a two-hundred day moving average price of $70.47.

Insider Activity at Wix.com

In other Wix.com news, CFO Lior Shemesh purchased 456 shares of the stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $59.89 per share, with a total value of $27,309.84. Following the completion of the acquisition, the chief financial officer owned 221,567 shares in the company, valued at $13,269,647.63. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shelly B. Meyer sold 479 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $95.00, for a total value of $45,505.00. Following the sale, the insider directly owned 183,010 shares in the company, valued at approximately $17,385,950. This trade represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 2,622 shares of company stock valued at $157,032 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Wix.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Senvest Management LLC lifted its stake in Wix.com by 24.8% in the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after buying an additional 746,200 shares in the last quarter. Hsbc Holdings PLC grew its position in Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after acquiring an additional 3,500,047 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Wix.com by 57.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after purchasing an additional 578,729 shares during the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock valued at $62,623,000 after acquiring an additional 685,614 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Wix.com by 52.1% during the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after acquiring an additional 197,200 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences.

The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.

Founded in 2006, Wix is headquartered in Tel Aviv, Israel, and serves customers internationally.