Allspring Global Investments Holdings LLC Sells 2,783 Shares of Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC decreased its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,316 shares of the information services provider's stock after selling 2,783 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of Wix.com worth $29,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WIX. Wellington Management Group LLP lifted its holdings in Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after acquiring an additional 1,266,202 shares during the period. Durable Capital Partners LP bought a new stake in shares of Wix.com during the 4th quarter worth $89,839,000. Whale Rock Capital Management LLC boosted its holdings in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock worth $229,904,000 after buying an additional 380,800 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Wix.com by 1,209.4% during the first quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider's stock valued at $56,319,000 after buying an additional 318,387 shares during the period. Finally, Senvest Management LLC grew its position in Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after buying an additional 304,712 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WIX shares. UBS Group dropped their target price on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company upgraded Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $173.00 to $216.00 in a research note on Monday, June 16th. B. Riley reissued a "buy" rating and issued a $230.00 target price (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. JMP Securities restated a "market outperform" rating and issued a $250.00 target price on shares of Wix.com in a research note on Friday, June 20th. Finally, Wall Street Zen downgraded Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Wix.com presently has a consensus rating of "Buy" and a consensus price target of $228.95.

Wix.com Price Performance

NASDAQ:WIX traded down $0.41 during trading hours on Thursday, hitting $164.17. The stock had a trading volume of 495,341 shares, compared to its average volume of 689,514. The company has a 50 day simple moving average of $162.15 and a two-hundred day simple moving average of $186.53. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 65.41, a P/E/G ratio of 2.62 and a beta of 1.31. Wix.com Ltd. has a one year low of $137.94 and a one year high of $247.11.

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.