Merit Financial Group LLC acquired a new position in Wix.com Ltd. (NASDAQ:WIX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,261 shares of the information services provider’s stock, valued at approximately $524,000.
Several other institutional investors have also added to or reduced their stakes in WIX. Senvest Management LLC lifted its stake in Wix.com by 194.2% in the third quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock worth $55,625,000 after purchasing an additional 399,944 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Wix.com by 43.5% during the third quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock worth $99,759,000 after acquiring an additional 329,561 shares during the period. Shannon River Fund Management LLC purchased a new position in shares of Wix.com during the third quarter worth approximately $29,590,000. Allspring Global Investments Holdings LLC increased its position in shares of Wix.com by 5,893.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 263,012 shares of the information services provider’s stock worth $24,145,000 after acquiring an additional 258,624 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Wix.com by 10.6% during the third quarter. Wellington Management Group LLP now owns 1,093,569 shares of the information services provider’s stock worth $100,390,000 after acquiring an additional 105,026 shares during the period. Institutional investors own 81.52% of the company’s stock.
Wix.com Trading Up 1.8 %
NASDAQ WIX opened at $122.14 on Wednesday. The firm’s fifty day simple moving average is $132.03 and its two-hundred day simple moving average is $119.35. Wix.com Ltd. has a 12-month low of $73.39 and a 12-month high of $146.21. The firm has a market capitalization of $6.80 billion, a P/E ratio of 222.07, a P/E/G ratio of 4.13 and a beta of 1.34.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on WIX. Barclays raised their target price on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Raymond James began coverage on shares of Wix.com in a research report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Wix.com in a report on Wednesday, February 21st. Finally, Piper Sandler lifted their price objective on shares of Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.29.
Check Out Our Latest Report on Wix.com
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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