Allspring Global Investments Holdings LLC Lowers Position in Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC reduced its stake in Wix.com Ltd. (NASDAQ:WIX) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,730 shares of the information services provider’s stock after selling 61,315 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.31% of Wix.com worth $28,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Natixis Advisors L.P. grew its position in 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 worth $1,350,000 after acquiring an additional 214 shares during the last quarter. Northwest Bank & Trust Co purchased a new position in Wix.com during the 4th quarter valued at $26,000. DekaBank Deutsche Girozentrale lifted its position in shares of Wix.com by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock worth $395,000 after purchasing an additional 215 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Wix.com during the 1st quarter valued at about $37,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Wix.com by 13.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,856 shares of the information services provider’s stock valued at $454,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 0.5 %

Shares of WIX opened at $166.86 on Wednesday. Wix.com Ltd. has a 1-year low of $76.90 and a 1-year high of $178.65. The firm has a fifty day simple moving average of $160.29 and a two-hundred day simple moving average of $147.14. The firm has a market cap of $9.54 billion, a PE ratio of 146.37, a P/E/G ratio of 3.66 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. During the same period in the prior year, the business posted $0.58 EPS. Wix.com’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Wix.com Ltd. will post 2.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WIX shares. UBS Group upped their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler reiterated a “neutral” rating and issued a $184.00 price objective on shares of Wix.com in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Wix.com from $148.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. Barclays increased their price target on shares of Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $190.00 price objective on shares of Wix.com in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.47.

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.