Allspring Global Investments Holdings LLC Reduces Position in Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,316 shares of the information services provider’s stock after selling 2,783 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wix.com were worth $29,736,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Wix.com by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock worth $26,738,000 after buying an additional 11,048 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $269,000. US Bancorp DE increased its holdings in shares of Wix.com by 1.9% during the 4th quarter. US Bancorp DE now owns 11,057 shares of the information services provider’s stock worth $2,372,000 after buying an additional 209 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Wix.com by 27.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 887 shares of the information services provider’s stock worth $193,000 after buying an additional 192 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock worth $74,000 after buying an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WIX shares. Morgan Stanley cut their price target on shares of Wix.com from $276.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group cut their price target on shares of Wix.com from $255.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Wix.com in a report on Friday, June 20th. Cfra Research cut shares of Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada dropped their target price on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com has a consensus rating of “Buy” and a consensus target price of $228.95.

Wix.com Stock Up 1.6%

NASDAQ:WIX opened at $161.03 on Wednesday. The company has a fifty day simple moving average of $162.06 and a two-hundred day simple moving average of $187.05. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 64.16, a price-to-earnings-growth ratio of 2.53 and a beta of 1.31. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11.

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.