Baillie Gifford & Co. Cuts Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Key Points

• Baillie Gifford & Co. has reduced its stake in Wix.com by 42.5%, selling 2,386,190 shares to hold 3,227,099 shares, which amounts to 5.75% of the company valued at $527.24 million.
• Several institutional investors have increased their positions in Wix.com, with KBC Group NV experiencing a significant 148.8% growth in ownership during the first quarter.
• Analyst ratings for Wix.com are predominantly positive, with a consensus rating of "Buy" and a target price averaging $228.95, despite some recent adjustments to target prices by firms like Bank of America and Citigroup.

Baillie Gifford & Co. cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 42.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,227,099 shares of the information services provider's stock after selling 2,386,190 shares during the period. Baillie Gifford & Co. owned about 5.75% of Wix.com worth $527,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Procyon Advisors LLC grew its position in shares of Wix.com by 5.1% during the first quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock worth $226,000 after buying an additional 67 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Wix.com by 9.7% during the fourth quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock worth $188,000 after buying an additional 77 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Wix.com by 4.9% during the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after buying an additional 85 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Wix.com by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider's stock worth $1,402,000 after buying an additional 96 shares in the last quarter. Finally, Korea Investment CORP grew its position in shares of Wix.com by 0.5% during the fourth quarter. Korea Investment CORP now owns 20,528 shares of the information services provider's stock worth $4,404,000 after buying an additional 100 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

Shares of WIX stock traded down $0.18 during trading hours on Tuesday, hitting $150.32. The stock had a trading volume of 282,882 shares, compared to its average volume of 865,539. The firm has a market capitalization of $8.43 billion, a PE ratio of 59.90, a PEG ratio of 2.43 and a beta of 1.31. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11. The stock's 50 day moving average is $155.89 and its 200 day moving average is $178.26.

Analysts Set New Price Targets

A number of brokerages have recently commented on WIX. Benchmark lowered their price objective on Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Morgan Stanley lowered their price target on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler lowered their price target on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Cfra Research downgraded Wix.com from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, B. Riley reaffirmed a "buy" rating and issued a $230.00 price target (down from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Two investment 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 stock. According to MarketBeat, Wix.com currently has an average rating of "Buy" and an average price target of $228.95.

Wix.com 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.