Wix.com Ltd. (NASDAQ:WIX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 73.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 34,068 shares of the information services provider’s stock after purchasing an additional 14,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wix.com were worth $4,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. HighMark Wealth Management LLC acquired a new position in Wix.com in the 4th quarter valued at about $26,000. Quarry LP acquired a new position in Wix.com in the 2nd quarter valued at about $29,000. UniSuper Management Pty Ltd acquired a new position in Wix.com in the 2nd quarter valued at about $31,000. BluePath Capital Management LLC acquired a new position in Wix.com in the 3rd quarter valued at about $37,000. Finally, Headlands Technologies LLC acquired a new position in Wix.com in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $121.41 on Monday. The business’s 50 day simple moving average is $134.44 and its 200-day simple moving average is $116.38. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 220.75, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. Wix.com Ltd. has a 12 month low of $73.39 and a 12 month high of $146.21.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The firm had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. During the same quarter in the prior year, the company earned ($0.42) EPS. Wix.com’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts anticipate that Wix.com Ltd. will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Wix.com in a report on Wednesday, February 21st. Piper Sandler lifted their price objective on Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Raymond James started coverage on Wix.com in a report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and an average price target of $144.29.

About Wix.com

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.