Assenagon Asset Management S.A. Trims Holdings in Wix.com Ltd. $WIX

Assenagon Asset Management S.A. lowered its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 72.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,081 shares of the information services provider’s stock after selling 148,145 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Wix.com worth $10,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after buying an additional 66 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Wix.com in the first quarter valued at about $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares during the period. Blue Trust Inc. grew its position in shares of Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Wix.com during the 2nd quarter valued at approximately $77,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Trading Up 0.2%

Shares of NASDAQ:WIX opened at $104.43 on Friday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 2.06 and a beta of 1.42. Wix.com Ltd. has a 12 month low of $92.23 and a 12 month high of $247.11. The company has a 50-day moving average price of $118.98 and a 200 day moving average price of $139.94.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WIX shares. Barclays cut their price objective on shares of Wix.com from $235.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. Benchmark cut their target price on shares of Wix.com from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Oppenheimer decreased their price target on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Cantor Fitzgerald raised their price objective on Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Finally, Needham & Company LLC decreased their target price on Wix.com from $200.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.67.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.