Avala Global LP reduced its stake in shares of Wix.com Ltd. (NASDAQ:WIX – Free Report) by 29.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,704 shares of the information services provider’s stock after selling 153,896 shares during the period. Wix.com accounts for 4.1% of Avala Global LP’s portfolio, making the stock its 9th biggest holding. Avala Global LP owned 0.68% of Wix.com worth $61,971,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Dorsal Capital Management LP raised its holdings in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the period. Captrust Financial Advisors raised its stake in Wix.com by 545.7% during the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after purchasing an additional 201,532 shares during the period. Renaissance Technologies LLC lifted its holdings in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Wix.com in the 2nd quarter worth approximately $13,646,000. Finally, Senvest Management LLC boosted its stake in Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after purchasing an additional 50,482 shares during the period. 81.52% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
WIX has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. B. Riley increased their price objective on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Piper Sandler boosted their target price on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $210.71.
Wix.com Stock Up 2.2 %
Shares of WIX opened at $223.74 on Monday. The business has a fifty day moving average of $176.92 and a 200 day moving average of $166.67. The company has a market cap of $12.27 billion, a PE ratio of 139.84, a P/E/G ratio of 4.30 and a beta of 1.55. Wix.com Ltd. has a 52-week low of $100.13 and a 52-week high of $224.33.
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.
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