US Bancorp DE Buys 2,774 Shares of Wix.com Ltd. (NASDAQ:WIX)

US Bancorp DE raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 25.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,831 shares of the information services provider's stock after buying an additional 2,774 shares during the quarter. US Bancorp DE's holdings in Wix.com were worth $2,260,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WIX. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wix.com by 31.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock worth $830,000 after buying an additional 1,204 shares during the period. Yousif Capital Management LLC boosted its holdings in 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 purchasing an additional 85 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Wix.com in the first quarter valued at $5,367,000. Envestnet Asset Management Inc. increased its stake in Wix.com by 27.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock valued at $5,747,000 after buying an additional 7,507 shares during the last quarter. Finally, LPL Financial LLC lifted its position in Wix.com by 24.4% during the 4th quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock worth $1,561,000 after buying an additional 1,429 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Price Performance

NASDAQ WIX traded up $5.00 on Thursday, reaching $133.49. The stock had a trading volume of 3,355,455 shares, compared to its average volume of 1,049,912. The company has a market cap of $7.49 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. The firm has a fifty day moving average of $152.44 and a two-hundred day moving average of $173.37. Wix.com Ltd. has a 1-year low of $126.22 and a 1-year high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 129.27%. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same period in the prior year, the company posted $1.67 earnings per share. Wix.com's revenue was up 12.4% compared to the same quarter last year. Research analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on WIX shares. JPMorgan Chase & Co. dropped their target price on Wix.com from $189.00 to $166.00 and set a "neutral" rating on the stock in a report on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $250.00 price objective on shares of Wix.com in a research note on Friday, June 20th. Baird R W raised Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Robert W. Baird upgraded shares of Wix.com from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $215.00 to $190.00 in a report on Friday, May 23rd. Finally, Piper Sandler dropped their price target 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. Two 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 stock. According to data from MarketBeat, Wix.com currently has a consensus rating of "Buy" and a consensus target price of $218.26.

About Wix.com

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.