The Manufacturers Life Insurance Company Lowers Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

The Manufacturers Life Insurance Company cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,496 shares of the information services provider’s stock after selling 450 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wix.com were worth $3,101,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Northwest Bank & Trust Co purchased a new position in Wix.com in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the first quarter worth about $37,000. Industrial Alliance Investment Management Inc. raised its holdings in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares in the last quarter. Toronto Dominion Bank lifted its stake in Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after acquiring an additional 124 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Wix.com during the 1st quarter worth approximately $214,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

WIX has been the topic of a number of analyst reports. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $184.00 to $200.00 in a report on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Wix.com in a report on Wednesday, August 7th. UBS Group increased their price objective on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Stock Up 0.0 %

Shares of WIX stock opened at $158.11 on Wednesday. The stock’s 50-day moving average price is $160.80 and its 200 day moving average price is $152.35. The stock has a market capitalization of $9.04 billion, a PE ratio of 138.69, a price-to-earnings-growth ratio of 3.40 and a beta of 1.48. Wix.com Ltd. has a 52-week low of $76.90 and a 52-week high of $178.65.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Wix.com Ltd. will post 2.1 earnings per share 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.