KBC Group NV Increases Holdings in Wix.com Ltd. (NASDAQ:WIX)

KBC Group NV lifted its holdings in Wix.com Ltd. (NASDAQ:WIX) by 148.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,513 shares of the information services provider’s stock after acquiring an additional 905 shares during the period. KBC Group NV’s holdings in Wix.com were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WIX. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wix.com by 31.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider’s stock worth $830,000 after acquiring an additional 1,204 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of Wix.com during the 1st quarter valued at about $901,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Wix.com by 22.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 138,949 shares of the information services provider’s stock valued at $22,701,000 after purchasing an additional 25,566 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Wix.com during the first quarter valued at about $403,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Wix.com by 1.7% in the first quarter. Asset Management One Co. Ltd. now owns 19,065 shares of the information services provider’s stock worth $3,115,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 0.2%

WIX stock opened at $164.17 on Friday. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 2.62 and a beta of 1.31. The business’s fifty day simple moving average is $162.11 and its two-hundred day simple moving average is $185.95.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Wix.com in a report on Friday, June 20th. Robert W. Baird upgraded Wix.com from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $215.00 to $190.00 in a research report on Friday, May 23rd. Piper Sandler reduced their price target on shares of Wix.com from $262.00 to $225.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of Wix.com in a research note on Wednesday, May 21st. Finally, Cfra Research lowered shares of Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Wix.com currently has a consensus rating of “Buy” and an average target price of $228.95.

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.