Harbor Capital Advisors Inc. Raises Stake in Wix.com Ltd. (NASDAQ:WIX)

Harbor Capital Advisors Inc. lifted its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 97.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,702 shares of the information services provider's stock after acquiring an additional 4,288 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Wix.com were worth $1,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Wix.com in the first quarter valued at about $37,000. Industrial Alliance Investment Management Inc. grew its stake in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider's stock valued at $94,000 after purchasing an additional 488 shares during the last quarter. CWM LLC grew its stake in Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider's stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock valued at $124,000 after purchasing an additional 124 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Up 0.7 %

Shares of WIX stock traded up $1.08 during trading hours on Wednesday, hitting $166.88. 355,416 shares of the company's stock were exchanged, compared to its average volume of 541,009. The firm has a market cap of $9.15 billion, a P/E ratio of 132.45, a P/E/G ratio of 3.48 and a beta of 1.47. The firm has a 50 day moving average of $163.23 and a two-hundred day moving average of $157.33. Wix.com Ltd. has a fifty-two week low of $85.38 and a fifty-two week high of $179.00.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same period in the prior year, the company posted $0.58 EPS. The business's quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Wix.com Ltd. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WIX shares. Piper Sandler upgraded Wix.com from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $184.00 to $200.00 in a research note on Monday, September 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $190.00 target price on shares of Wix.com in a research note on Wednesday, August 7th. StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They set a "sector weight" rating on the stock. Finally, UBS Group boosted their price target on Wix.com from $200.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.06.

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.