Principal Financial Group Inc. Sells 4,047 Shares of Wix.com Ltd. (NASDAQ:WIX)

Principal Financial Group Inc. trimmed its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 923,662 shares of the information services provider's stock after selling 4,047 shares during the period. Principal Financial Group Inc. owned approximately 1.68% of Wix.com worth $198,172,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after purchasing an additional 98 shares during the period. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after purchasing an additional 130 shares during the period. Avior Wealth Management LLC raised its holdings in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after purchasing an additional 89 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com in the fourth quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Wix.com by 113.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider's stock worth $56,000 after purchasing an additional 139 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday. Piper Sandler increased their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday. Wells Fargo & Company assumed coverage on shares of Wix.com in a research report on Monday, February 3rd. They set an "underweight" rating and a $208.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Benchmark raised their target price on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.83.

Wix.com Price Performance

Wix.com stock traded down $0.52 during midday trading on Friday, hitting $203.13. The company's stock had a trading volume of 249,475 shares, compared to its average volume of 830,350. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The company has a 50-day moving average price of $226.63 and a two-hundred day moving average price of $192.98. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 86.40, a PEG ratio of 2.42 and a beta of 1.58.

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.