Assetmark Inc. Grows Stake in Wix.com Ltd. (NASDAQ:WIX)

Assetmark Inc. raised its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1,897.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,386 shares of the information services provider's stock after purchasing an additional 9,866 shares during the quarter. Assetmark Inc.'s holdings in Wix.com were worth $1,697,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after acquiring an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP bought a new position in Wix.com during the 4th quarter worth $89,839,000. Whale Rock Capital Management LLC raised its position in Wix.com by 55.1% during 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 purchasing an additional 380,800 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Wix.com by 1,209.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider's stock worth $56,319,000 after purchasing an additional 318,387 shares during the last quarter. Finally, Senvest Management LLC raised its position in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock worth $305,260,000 after purchasing an additional 304,712 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several analyst reports. Piper Sandler lowered their target price on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. UBS Group lowered their target price on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Baird R W raised Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Bank of America lowered their price objective on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Finally, Cfra Research lowered Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $228.95.

Wix.com Stock Down 5.2%

WIX stock traded down $7.06 during mid-day trading on Friday, reaching $128.97. 746,185 shares of the company traded hands, compared to its average volume of 690,984. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 2.17 and a beta of 1.27. Wix.com Ltd. has a fifty-two week low of $128.54 and a fifty-two week high of $247.11. The firm's 50 day moving average price is $154.59 and its 200 day moving average price is $177.17.

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.