Clearbridge Investments LLC Has $190.48 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

Clearbridge Investments LLC lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,197,474 shares of the information services provider’s stock after buying an additional 33,338 shares during the quarter. Clearbridge Investments LLC owned about 2.09% of Wix.com worth $190,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Creative Planning raised its position in shares of Wix.com by 56.6% in the 2nd quarter. Creative Planning now owns 8,041 shares of the information services provider’s stock worth $1,279,000 after acquiring an additional 2,907 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Wix.com during the second quarter valued at about $13,646,000. MBB Public Markets I LLC boosted its position in shares of Wix.com by 123.7% during the 2nd quarter. MBB Public Markets I LLC now owns 3,749 shares of the information services provider’s stock worth $596,000 after purchasing an additional 2,073 shares in the last quarter. Dorsal Capital Management LP grew its stake in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after buying an additional 250,000 shares during the period. Finally, Eminence Capital LP raised its position in shares of Wix.com by 7.3% during the second quarter. Eminence Capital LP now owns 244,424 shares of the information services provider’s stock worth $38,881,000 after purchasing an additional 16,529 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of Wix.com stock opened at $157.49 on Wednesday. The stock has a 50 day moving average price of $160.85 and a 200-day moving average price of $151.52. Wix.com Ltd. has a one year low of $76.90 and a one year high of $178.65. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 138.15, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. Sell-side analysts predict that Wix.com Ltd. will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Benchmark lifted their price objective on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.