Wix.com Ltd. (NASDAQ:WIX) Stake Boosted by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC grew its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 69.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,880 shares of the information services provider’s stock after purchasing an additional 1,596 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Wix.com were worth $533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its position in Wix.com by 5.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after purchasing an additional 129 shares during the period. HighMark Wealth Management LLC acquired a new stake in shares of Wix.com during the 4th quarter valued at $26,000. Natixis Advisors L.P. lifted its position in shares of Wix.com by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock valued at $1,350,000 after acquiring an additional 214 shares during the last quarter. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com during the 4th quarter valued at $26,000. Finally, TD Asset Management Inc lifted its position in shares of Wix.com by 2.7% during the 4th quarter. TD Asset Management Inc now owns 14,913 shares of the information services provider’s stock valued at $1,835,000 after acquiring an additional 386 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Wix.com from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Benchmark boosted their target price on shares of Wix.com from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler downgraded shares of Wix.com from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $165.00 to $184.00 in a research note on Tuesday, May 21st. Morgan Stanley boosted their target price on shares of Wix.com from $143.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Finally, UBS Group boosted their target price on shares of Wix.com from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $175.59.

Wix.com Price Performance

Shares of NASDAQ WIX traded up $0.27 during mid-day trading on Wednesday, hitting $157.37. The company had a trading volume of 375,100 shares, compared to its average volume of 644,246. The firm has a market cap of $9.00 billion, a P/E ratio of 138.05, a PEG ratio of 3.71 and a beta of 1.46. The business’s 50-day simple moving average is $146.99 and its 200-day simple moving average is $135.44. Wix.com Ltd. has a 12 month low of $74.41 and a 12 month high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Monday, May 20th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The firm had revenue of $419.78 million for the quarter, compared to analysts’ expectations of $417.71 million. As a group, sell-side analysts predict that Wix.com Ltd. will post 1.91 EPS for the current year.

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.