Wix.com Ltd. (NASDAQ:WIX) Stock Holdings Trimmed by abrdn plc

abrdn plc lowered its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,092 shares of the information services provider’s stock after selling 1,120 shares during the period. abrdn plc’s holdings in Wix.com were worth $2,226,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Wix.com by 10.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,093,569 shares of the information services provider’s stock valued at $100,390,000 after acquiring an additional 105,026 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Wix.com by 43.5% during the 3rd quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock valued at $99,759,000 after purchasing an additional 329,561 shares during the period. Senvest Management LLC increased its position in shares of Wix.com by 194.2% during the 3rd quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after purchasing an additional 399,944 shares during the period. Sei Investments Co. increased its position in shares of Wix.com by 8.2% during the 3rd quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock valued at $49,482,000 after purchasing an additional 40,831 shares during the period. Finally, Meitav Investment House Ltd. increased its position in shares of Wix.com by 17.4% during the 3rd quarter. Meitav Investment House Ltd. now owns 534,708 shares of the information services provider’s stock valued at $49,032,000 after purchasing an additional 79,349 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WIX shares. Barclays lifted their price target on Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Raymond James started coverage on Wix.com in a research report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price target on the stock. Benchmark lifted their price target on Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. JMP Securities lifted their target price on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada lifted their target price on Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

Wix.com Trading Down 0.3 %

Shares of WIX stock opened at $120.81 on Monday. Wix.com Ltd. has a 1-year low of $73.39 and a 1-year high of $146.21. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 219.65, a P/E/G ratio of 4.16 and a beta of 1.33. The stock’s fifty day simple moving average is $133.83 and its 200-day simple moving average is $117.59.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share 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 business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Wix.com’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that Wix.com Ltd. will post 1.16 EPS for the current year.

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.