Wix.com Ltd. (NASDAQ:WIX) Stake Lifted by Cwm LLC

Cwm LLC boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 632 shares of the information services provider’s stock after buying an additional 101 shares during the quarter. Cwm LLC’s holdings in Wix.com were worth $106,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WIX. Dorsal Capital Management LP raised its position in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 valued at $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Wix.com during the second quarter worth about $13,646,000. State Board of Administration of Florida Retirement System lifted its position in shares of Wix.com by 2,110.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock worth $9,568,000 after buying an additional 66,447 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Wix.com by 416.5% during the 1st quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock valued at $11,061,000 after purchasing an additional 64,878 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on WIX shares. Barclays decreased their price objective on Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $184.00 to $200.00 in a report on Monday, September 23rd. JMP Securities reissued a “market outperform” rating and set a $180.00 price target on shares of Wix.com in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a research note on Monday, October 7th. Finally, KeyCorp started coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.06.

Wix.com Price Performance

WIX stock opened at $164.27 on Friday. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 144.10, a P/E/G ratio of 3.55 and a beta of 1.48. The company has a 50 day simple moving average of $163.45 and a 200 day simple moving average of $154.92. Wix.com Ltd. has a 1 year low of $76.90 and a 1 year high of $179.00.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. During the same period last year, the business earned $0.58 EPS. Wix.com’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Wix.com Ltd. will post 2.1 EPS 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.