Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 45.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,772 shares of the information services provider's stock after selling 81,958 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of Wix.com worth $16,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after acquiring an additional 98 shares during the period. Fidelis Capital Partners LLC bought a new stake in Wix.com during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. raised 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 acquiring an additional 488 shares during the period. CWM LLC raised 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 acquiring an additional 101 shares during the period. Finally, Toronto Dominion Bank raised 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 acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WIX shares. Needham & Company LLC reiterated a "buy" rating and set a $190.00 price objective on shares of Wix.com in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Wix.com from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Wix.com to a "strong-buy" rating in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of Wix.com in a research report on Monday, October 7th. Finally, Piper Sandler upgraded shares of Wix.com from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $184.00 to $200.00 in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $190.06.

Wix.com Trading Up 1.1 %

Shares of WIX traded up $1.81 during trading hours on Friday, reaching $164.27. 211,120 shares of the company traded hands, compared to its average volume of 549,923. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 144.10, a PEG ratio of 3.55 and a beta of 1.48. Wix.com Ltd. has a 12-month low of $76.90 and a 12-month high of $179.00. The stock's fifty day moving average price is $163.45 and its 200 day moving average price is $154.92.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm 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 firm's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. On average, research analysts forecast that Wix.com Ltd. will post 2.1 earnings per share for the current year.

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.