Allspring Global Investments Holdings LLC Buys 87,327 Shares of Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 90.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,099 shares of the information services provider’s stock after purchasing an additional 87,327 shares during the period. Allspring Global Investments Holdings LLC owned about 0.34% of Wix.com worth $39,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Wix.com by 23.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after buying an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Wix.com in the third quarter valued at approximately $661,000. BNP Paribas Financial Markets lifted its position in shares of Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Wix.com during the fourth quarter worth $256,000. Finally, Cumberland Partners Ltd grew its position in Wix.com by 18.8% in the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock valued at $3,176,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 1.1 %

Wix.com stock opened at $223.70 on Friday. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 139.81, a PEG ratio of 2.48 and a beta of 1.58. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The stock’s 50 day moving average is $226.55 and its 200-day moving average is $191.13.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WIX shares. Barclays boosted their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Robert W. Baird upped their price objective on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Bank of America increased their price objective on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.61.

About Wix.com

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.