Strs Ohio trimmed its position in shares of Wix.com Ltd. (NASDAQ:WIX – Free Report) by 59.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 29,563 shares of the information services provider’s stock after selling 43,278 shares during the period. Strs Ohio’s holdings in Wix.com were worth $2,663,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wix.com by 90.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after purchasing an additional 1,609,989 shares during the last quarter. Senvest Management LLC raised its holdings in shares of Wix.com by 20.9% in the 4th quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider’s stock valued at $312,551,000 after purchasing an additional 519,805 shares during the period. Dorsal Capital Management LP raised its holdings in shares of Wix.com by 50.0% in the 3rd quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock valued at $279,767,000 after purchasing an additional 525,000 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new stake in Wix.com in the 4th quarter valued at about $150,622,000. 81.52% of the stock is owned by institutional investors.
Wix.com Stock Performance
NASDAQ:WIX traded up $1.47 during mid-day trading on Tuesday, reaching $51.68. 125,862 shares of the company’s stock were exchanged, compared to its average volume of 2,358,730. Wix.com Ltd. has a one year low of $40.16 and a one year high of $190.93. The firm has a market capitalization of $3.01 billion, a PE ratio of -65.46 and a beta of 0.93. The business’s fifty day simple moving average is $55.68 and its two-hundred day simple moving average is $74.32.
Analyst Ratings Changes
A number of equities analysts recently commented on WIX shares. Robert W. Baird cut Wix.com from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $115.00 to $90.00 in a report on Monday, March 9th. Oppenheimer dropped their price objective on Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Royal Bank Of Canada cut their price objective on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 9th. Bank of America reduced their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and an average target price of $96.75.
Check Out Our Latest Stock Analysis on Wix.com
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.
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