Allianz Asset Management GmbH Has $2.97 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Allianz Asset Management GmbH raised its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,174 shares of the information services provider's stock after purchasing an additional 3,396 shares during the quarter. Allianz Asset Management GmbH's holdings in Wix.com were worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WIX. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wix.com by 31.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock valued at $830,000 after acquiring an additional 1,204 shares during the period. Yousif Capital Management LLC lifted its position in shares of Wix.com by 4.9% during the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock valued at $299,000 after acquiring an additional 85 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Wix.com during the 1st quarter valued at approximately $5,367,000. Envestnet Asset Management Inc. lifted its position in shares of Wix.com by 27.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock valued at $5,747,000 after acquiring an additional 7,507 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Wix.com by 24.4% during the 4th quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock valued at $1,561,000 after acquiring an additional 1,429 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Price Performance

Shares of Wix.com stock traded down $7.06 on Friday, hitting $128.97. The company had a trading volume of 746,185 shares, compared to its average volume of 879,492. The firm has a market capitalization of $7.24 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.22 and a beta of 1.31. Wix.com Ltd. has a twelve month low of $128.54 and a twelve month high of $247.11. The stock has a 50-day moving average of $154.59 and a 200-day moving average of $177.17.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays reiterated an "overweight" rating and issued a $240.00 price target on shares of Wix.com in a report on Wednesday, July 16th. Baird R W upgraded Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Citigroup dropped their price objective on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a report on Friday, April 25th. Piper Sandler decreased their price target on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Finally, Benchmark decreased their price target on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $228.95.

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.