Wix.com Ltd. (NASDAQ:WIX) Holdings Decreased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Wix.com Ltd. by 14.6%, selling 2,800 shares and ending the quarter with 16,400 shares valued at approximately $2.68 million.
• Institutional investors collectively own 81.52% of Wix.com's stock, with several large investors increasing or initiating their stakes in the first quarter.
• Analyst ratings for Wix.com show a consensus of "Buy" with an average price target of $228.95, despite several analysts adjusting their price targets downward.

KLP Kapitalforvaltning AS lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 14.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,400 shares of the information services provider's stock after selling 2,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Wix.com were worth $2,679,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after purchasing an additional 1,266,202 shares in the last quarter. Dorsal Capital Management LP lifted its position in shares of Wix.com by 1.8% in the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock worth $305,734,000 after purchasing an additional 25,000 shares during the period. Senvest Management LLC lifted 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 valued at $305,260,000 after acquiring an additional 304,712 shares during the period. Whale Rock Capital Management LLC raised its stake in Wix.com by 55.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock valued at $229,904,000 after buying an additional 380,800 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Wix.com by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after buying an additional 162,400 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Stock Performance

Shares of WIX stock traded down $0.80 on Tuesday, hitting $149.70. The stock had a trading volume of 157,447 shares, compared to its average volume of 864,828. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 59.64, a P/E/G ratio of 2.43 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 stock's 50 day moving average is $155.89 and its 200-day moving average is $178.26.

Wall Street Analysts Forecast Growth

WIX has been the subject of several research reports. Piper Sandler reduced their price target on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Oppenheimer lowered their target price on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group lowered their price target on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Benchmark decreased their price objective on Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Barclays restated an "overweight" rating and issued a $240.00 target price on shares of Wix.com in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.