Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Wix.com Ltd. (NASDAQ:WIX) by 25.5% during the second quarter, Holdings Channel reports. The institutional investor owned 178,730 shares of the information services provider’s stock after selling 61,315 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wix.com were worth $28,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Bank & Trust Co purchased a new position in shares of Wix.com in the 4th quarter valued at about $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Wix.com in the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. grew its position in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after acquiring an additional 488 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Wix.com in the 4th quarter valued at $93,000. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Wix.com in the 1st quarter valued at $214,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on WIX shares. Bank of America increased their price target on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Barclays boosted their price target on Wix.com from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. KeyCorp started coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating for the company. Benchmark boosted their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group increased their price target on Wix.com from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.47.

Wix.com Stock Performance

WIX stock opened at $166.86 on Wednesday. The company has a 50 day moving average price of $160.29 and a two-hundred day moving average price of $147.14. The stock has a market capitalization of $9.54 billion, a P/E ratio of 146.37, a PEG ratio of 3.66 and a beta of 1.47. Wix.com Ltd. has a one year low of $76.90 and a one year high of $178.65.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that Wix.com Ltd. will post 2.01 earnings per share for the current fiscal year.

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.