Inspire Investing LLC Acquires Shares of 4,959 Wix.com Ltd. (NASDAQ:WIX)

Inspire Investing LLC acquired a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,959 shares of the information services provider’s stock, valued at approximately $789,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP increased its stake in shares of Wix.com by 107.9% during the 2nd quarter. Seven Eight Capital LP now owns 11,132 shares of the information services provider’s stock worth $1,771,000 after purchasing an additional 5,777 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Wix.com during the 2nd quarter worth approximately $259,000. Renaissance Technologies LLC increased its stake in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after purchasing an additional 7,070 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Wix.com during the 2nd quarter worth approximately $639,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $160.64 on Friday. The firm has a fifty day moving average price of $160.48 and a two-hundred day moving average price of $150.20. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 140.91, a PEG ratio of 3.47 and a beta of 1.47. Wix.com Ltd. has a one year low of $76.90 and a one year high of $178.65.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. Equities research analysts expect that Wix.com Ltd. will post 2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $184.00 price objective on shares of Wix.com in a report on Thursday, August 8th. Bank of America raised their price objective on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, KeyCorp assumed coverage on shares of Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wix.com has an average rating of “Moderate Buy” and a consensus target price of $189.19.

Wix.com Company 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.