Hennion & Walsh Asset Management Inc. Buys Shares of 2,509 Wix.com Ltd. (NASDAQ:WIX)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,509 shares of the information services provider’s stock, valued at approximately $345,000.

Several other large investors also recently added to or reduced their stakes in WIX. Norges Bank purchased a new stake in shares of Wix.com during the fourth quarter worth $34,554,000. Clearbridge Investments LLC lifted its holdings in Wix.com by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock worth $140,710,000 after purchasing an additional 57,090 shares in the last quarter. Crescent Park Management L.P. boosted its stake in Wix.com by 16.5% in the 4th quarter. Crescent Park Management L.P. now owns 106,886 shares of the information services provider’s stock worth $13,149,000 after purchasing an additional 15,131 shares during the period. APG Asset Management US Inc. purchased a new position in Wix.com during the 4th quarter valued at about $1,336,000. Finally, Capital Fund Management S.A. increased its position in shares of Wix.com by 1,378.7% during the fourth quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after buying an additional 149,605 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WIX shares. Raymond James began coverage on shares of Wix.com in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price objective for the company. Piper Sandler lowered shares of Wix.com from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $165.00 to $184.00 in a research report on Tuesday, May 21st. JPMorgan Chase & Co. increased their price objective on Wix.com from $148.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. Oppenheimer lifted their price objective on Wix.com from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, B. Riley raised their price target on Wix.com from $154.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.59.

Wix.com Stock Down 1.0 %

Wix.com stock opened at $156.10 on Thursday. The firm has a fifty day simple moving average of $150.57 and a two-hundred day simple moving average of $137.14. Wix.com Ltd. has a twelve month low of $75.09 and a twelve month high of $178.65. The company has a market capitalization of $8.92 billion, a PE ratio of 136.93, a P/E/G ratio of 3.76 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last released its earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The company had revenue of $419.78 million during the quarter, compared to analyst estimates of $417.71 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. As a group, equities analysts expect that Wix.com Ltd. will post 1.91 earnings per share 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.