Envestnet Asset Management Inc. Buys 7,507 Shares of Wix.com Ltd. (NASDAQ:WIX)

Envestnet Asset Management Inc. increased its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 27.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,177 shares of the information services provider's stock after buying an additional 7,507 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Wix.com worth $5,747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WIX. HighTower Advisors LLC bought a new stake in shares of Wix.com during the fourth quarter valued at approximately $278,000. Commonwealth Equity Services LLC increased its position in shares of Wix.com by 3.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,815 shares of the information services provider's stock valued at $1,033,000 after acquiring an additional 139 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Wix.com by 6.5% during the fourth quarter. Corient Private Wealth LLC now owns 4,319 shares of the information services provider's stock valued at $927,000 after acquiring an additional 264 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Wix.com by 1.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,790 shares of the information services provider's stock valued at $1,886,000 after acquiring an additional 106 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Wix.com during the fourth quarter valued at approximately $4,119,000. 81.52% of the stock is owned by institutional investors.

Wix.com Price Performance

Shares of WIX stock traded up $0.12 on Friday, hitting $152.49. 608,755 shares of the stock traded hands, compared to its average volume of 872,497. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 60.75, a PEG ratio of 2.46 and a beta of 1.31. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11. The firm has a 50 day simple moving average of $157.09 and a two-hundred day simple moving average of $179.84.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WIX shares. B. Riley reissued a "buy" rating and set a $230.00 price target (down previously from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Citigroup dropped their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Bank of America dropped their target price on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Benchmark dropped their target price on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday, June 18th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.