Harel Insurance Investments & Financial Services Ltd. Increases Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 135.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,777 shares of the information services provider's stock after buying an additional 14,232 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Wix.com were worth $4,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the fourth quarter worth $52,000. Jones Financial Companies Lllp increased its stake in Wix.com by 559.6% in the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock worth $74,000 after acquiring an additional 291 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Wix.com in the 4th quarter valued at about $114,000. Cullen Frost Bankers Inc. raised its holdings in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after acquiring an additional 55 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Wix.com by 44.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock valued at $135,000 after acquiring an additional 193 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Down 0.2%

Shares of WIX traded down $0.41 during trading hours on Friday, hitting $164.17. The company had a trading volume of 495,341 shares, compared to its average volume of 689,514. Wix.com Ltd. has a 52-week low of $137.94 and a 52-week high of $247.11. The stock's 50 day moving average price is $162.11 and its 200 day moving average price is $186.15. The firm has a market cap of $9.21 billion, a P/E ratio of 65.41, a P/E/G ratio of 2.62 and a beta of 1.31.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WIX. Piper Sandler decreased their price objective on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Bank of America cut their price target on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $173.00 to $216.00 in a report on Monday, June 16th. Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group cut their target price on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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.