Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Wix.com Ltd. (NASDAQ:WIX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,738 shares of the information services provider's stock after selling 8,445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Wix.com were worth $4,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dorsal Capital Management LP raised its position in shares of Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider's stock worth $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider's stock valued at $190,482,000 after purchasing an additional 33,338 shares during the last quarter. Senvest Management LLC raised its stake in shares of Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider's stock worth $186,910,000 after buying an additional 50,482 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider's stock valued at $124,973,000 after buying an additional 171,500 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider's stock worth $44,055,000 after acquiring an additional 49,500 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of Wix.com from $200.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a report on Saturday, November 23rd. JPMorgan Chase & Co. lifted their price objective on Wix.com from $195.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Benchmark raised their target price on shares of Wix.com from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. Four investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $210.71.

Wix.com Stock Performance

WIX traded down $0.79 during midday trading on Tuesday, hitting $219.72. The stock had a trading volume of 530,842 shares, compared to its average volume of 559,585. Wix.com Ltd. has a 1 year low of $101.72 and a 1 year high of $225.80. The business has a fifty day moving average of $178.05 and a 200 day moving average of $167.27. The company has a market cap of $12.05 billion, a P/E ratio of 136.46, a price-to-earnings-growth ratio of 4.24 and a beta of 1.55.

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.