Asset Management One Co. Ltd. Cuts Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Asset Management One Co. Ltd. lessened its holdings in Wix.com Ltd. (NASDAQ:WIX) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,755 shares of the information services provider’s stock after selling 270 shares during the period. Asset Management One Co. Ltd.’s holdings in Wix.com were worth $4,094,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Wix.com during the 4th quarter valued at $256,000. Cumberland Partners Ltd grew its holdings in Wix.com by 18.8% during the 3rd quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock valued at $3,176,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Wix.com during the 3rd quarter valued at $461,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Down 4.7 %

WIX stock opened at $217.00 on Thursday. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 135.63, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58. The firm’s 50-day moving average is $227.05 and its two-hundred day moving average is $192.90.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WIX. Jefferies Financial Group raised their price objective on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Citigroup raised their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Finally, Bank of America raised their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.