Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Avala Global LP

Avala Global LP reduced its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 29.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 370,704 shares of the information services provider's stock after selling 153,896 shares during the quarter. Wix.com accounts for approximately 4.1% of Avala Global LP's portfolio, making the stock its 9th largest holding. Avala Global LP owned 0.68% of Wix.com worth $61,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after buying an additional 98 shares during the period. Advisors Asset Management Inc. grew its position in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after buying an additional 130 shares during the period. CWM LLC grew its position in shares of 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. Toronto Dominion Bank grew its position in shares of 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. Finally, Metis Global Partners LLC acquired a new stake in Wix.com during the third quarter worth approximately $200,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. B. Riley raised their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. UBS Group raised their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Cantor Fitzgerald increased their price target on shares of Wix.com from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their price target on shares of Wix.com from $200.00 to $249.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Four research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.71.

Wix.com Price Performance

Wix.com stock traded down $3.67 during midday trading on Monday, hitting $220.07. 519,663 shares of the stock were exchanged, compared to its average volume of 558,973. Wix.com Ltd. has a 1 year low of $101.72 and a 1 year high of $225.80. The firm has a market cap of $12.06 billion, a P/E ratio of 139.84, a P/E/G ratio of 4.30 and a beta of 1.55. The company has a 50 day moving average price of $176.92 and a two-hundred day moving average price of $166.67.

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.