M&G Plc Buys 1,923 Shares of Wix.com Ltd. (NASDAQ:WIX)

M&G Plc grew its stake in Wix.com Ltd. (NASDAQ:WIX) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 67,310 shares of the information services provider’s stock after purchasing an additional 1,923 shares during the period. M&G Plc’s holdings in Wix.com were worth $11,241,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its holdings in Wix.com by 13.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 116,616 shares of the information services provider’s stock worth $19,495,000 after acquiring an additional 13,891 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Wix.com by 1.6% during the third quarter. Van ECK Associates Corp now owns 16,839 shares of the information services provider’s stock valued at $2,764,000 after purchasing an additional 261 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Wix.com by 97.1% during the third quarter. Harbor Capital Advisors Inc. now owns 8,702 shares of the information services provider’s stock worth $1,455,000 after purchasing an additional 4,288 shares during the last quarter. VELA Investment Management LLC grew its position in Wix.com by 22.4% in the 3rd quarter. VELA Investment Management LLC now owns 10,797 shares of the information services provider’s stock worth $1,805,000 after purchasing an additional 1,974 shares in the last quarter. Finally, US Bancorp DE increased its stake in Wix.com by 2.1% in the 3rd quarter. US Bancorp DE now owns 10,848 shares of the information services provider’s stock valued at $1,813,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ:WIX opened at $172.04 on Friday. The business’s fifty day moving average is $163.40 and its 200 day moving average is $157.43. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 136.54, a PEG ratio of 3.48 and a beta of 1.47. Wix.com Ltd. has a 52-week low of $85.38 and a 52-week high of $179.00.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts predict that Wix.com Ltd. will post 2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark boosted their target price on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $190.00 price objective on shares of Wix.com in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of Wix.com in a research note on Monday, October 7th. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.06.

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.