Lakehouse Capital Pty Ltd Acquires 12,600 Shares of Wix.com Ltd. (NASDAQ:WIX)

Lakehouse Capital Pty Ltd grew its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 26.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 60,708 shares of the information services provider's stock after acquiring an additional 12,600 shares during the quarter. Wix.com comprises 7.1% of Lakehouse Capital Pty Ltd's investment portfolio, making the stock its 7th biggest holding. Lakehouse Capital Pty Ltd owned about 0.11% of Wix.com worth $10,148,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northwest Bank & Trust Co purchased a new position in Wix.com during the 4th quarter worth approximately $26,000. Fidelis Capital Partners LLC purchased a new position in Wix.com during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. grew its stake in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider's stock worth $94,000 after buying an additional 488 shares during the last quarter. CWM LLC grew its stake in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock worth $106,000 after buying an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock worth $124,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Stock Up 3.7 %

Shares of NASDAQ:WIX traded up $5.92 during midday trading on Thursday, reaching $167.10. The company's stock had a trading volume of 535,729 shares, compared to its average volume of 558,540. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 146.58, a price-to-earnings-growth ratio of 3.40 and a beta of 1.48. Wix.com Ltd. has a 1 year low of $76.90 and a 1 year high of $178.65. The business has a 50 day moving average price of $161.29 and a 200 day moving average price of $152.52.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler raised Wix.com from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Barclays decreased their price objective on Wix.com from $186.00 to $184.00 and set an "overweight" rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $190.00 price objective on shares of Wix.com in a research report on Wednesday, August 7th. Benchmark increased their price objective on Wix.com from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Finally, StockNews.com raised Wix.com from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wix.com presently has a consensus rating of "Moderate Buy" and a consensus 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.