Cumberland Partners Ltd Boosts Stake in Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,000 shares of the information services provider's stock after acquiring an additional 3,000 shares during the period. Cumberland Partners Ltd's holdings in Wix.com were worth $3,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WIX. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Wix.com by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,067 shares of the information services provider's stock valued at $16,728,000 after buying an additional 1,161 shares in the last quarter. Entropy Technologies LP grew its holdings in Wix.com by 19.2% during the third quarter. Entropy Technologies LP now owns 4,959 shares of the information services provider's stock worth $829,000 after buying an additional 800 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Wix.com in the third quarter valued at approximately $5,027,000. GDS Wealth Management purchased a new position in Wix.com in the third quarter worth $419,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Wix.com by 7.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 22,305 shares of the information services provider's stock valued at $3,729,000 after acquiring an additional 1,600 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on WIX. UBS Group upped their price objective on Wix.com from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and set a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Benchmark upped their price objective on shares of Wix.com from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Evercore ISI upgraded shares of Wix.com to a "strong-buy" rating in a report on Monday, August 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday, October 7th. Three 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 data from MarketBeat, Wix.com presently has a consensus rating of "Moderate Buy" and an average target price of $190.06.

Wix.com Stock Performance

Shares of WIX stock traded up $5.30 during mid-day trading on Tuesday, hitting $188.94. The company's stock had a trading volume of 731,748 shares, compared to its average volume of 542,212. The business has a 50-day moving average price of $163.86 and a 200 day moving average price of $158.71. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 149.47, a PEG ratio of 3.67 and a beta of 1.47. Wix.com Ltd. has a 52-week low of $86.22 and a 52-week high of $192.00.

Wix.com Company 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.