Federated Hermes Inc. Has $38.98 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Federated Hermes Inc. grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 177.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,559 shares of the information services provider's stock after buying an additional 152,573 shares during the quarter. Federated Hermes Inc. owned approximately 0.43% of Wix.com worth $38,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC bought a new stake in shares of Wix.com in the 4th quarter valued at about $278,000. LPL Financial LLC raised its holdings in shares of Wix.com by 24.4% in the 4th quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock valued at $1,561,000 after purchasing an additional 1,429 shares during the period. Korea Investment CORP raised its holdings in Wix.com by 0.5% in the 4th quarter. Korea Investment CORP now owns 20,528 shares of the information services provider's stock valued at $4,404,000 after acquiring an additional 100 shares during the period. Norges Bank bought a new position in Wix.com in the 4th quarter valued at about $63,829,000. Finally, Pictet Asset Management Holding SA raised its holdings in Wix.com by 71.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 51,869 shares of the information services provider's stock valued at $11,128,000 after acquiring an additional 21,583 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Stock Performance

Shares of NASDAQ WIX traded down $7.06 during trading hours on Friday, hitting $128.97. 746,185 shares of the stock were exchanged, compared to its average volume of 690,984. The company has a market cap of $7.24 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The company's fifty day simple moving average is $154.59 and its two-hundred day simple moving average is $177.17. Wix.com Ltd. has a 1-year low of $128.54 and a 1-year high of $247.11.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WIX. Robert W. Baird raised shares of Wix.com from a "neutral" rating to an "outperform" rating and lowered their price target for the company from $215.00 to $190.00 in a report on Friday, May 23rd. Wall Street Zen cut shares of Wix.com from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $173.00 to $216.00 in a report on Monday, June 16th. B. Riley reissued 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. Finally, Cfra Research cut shares of Wix.com from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 15th. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.