Creative Planning Raises Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Creative Planning increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 15.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,310 shares of the information services provider’s stock after acquiring an additional 1,269 shares during the quarter. Creative Planning’s holdings in Wix.com were worth $1,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dorsal Capital Management LP boosted 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 worth $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Wix.com during the second quarter worth approximately $13,646,000. State Board of Administration of Florida Retirement System boosted its stake in Wix.com by 2,110.8% during the first 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 last quarter. Finally, SG Americas Securities LLC grew its holdings in Wix.com by 416.5% in 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 buying an additional 64,878 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 3.1 %

WIX stock opened at $169.59 on Wednesday. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 148.76, a PEG ratio of 3.49 and a beta of 1.48. Wix.com Ltd. has a fifty-two week low of $76.90 and a fifty-two week high of $179.00. The business has a 50 day moving average price of $163.32 and a 200 day moving average price of $155.45.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wix.com Ltd. will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WIX shares. Barclays dropped their price objective on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. JMP Securities reiterated a “market outperform” rating and set a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted 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 target price on shares of Wix.com in a research note on Wednesday, August 7th. Finally, KeyCorp started coverage on shares of Wix.com in a report 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.06.

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.