Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,566 shares of the information services provider's stock after selling 15,787 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Wix.com worth $14,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WIX. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wix.com by 31.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock valued at $830,000 after acquiring an additional 1,204 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in Wix.com during the 1st quarter valued at about $901,000. Robeco Institutional Asset Management B.V. increased its position in Wix.com by 22.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 138,949 shares of the information services provider's stock valued at $22,701,000 after purchasing an additional 25,566 shares during the period. Wealthquest Corp bought a new stake in shares of Wix.com in the 1st quarter valued at about $403,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Wix.com by 1.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 19,065 shares of the information services provider's stock worth $3,115,000 after purchasing an additional 310 shares during the period. Institutional investors own 81.52% of the company's stock.

Wix.com Trading Down 0.2%

Shares of NASDAQ:WIX traded down $0.41 on Friday, hitting $164.17. 495,341 shares of the company were exchanged, compared to its average volume of 689,514. The firm has a market capitalization of $9.21 billion, a P/E ratio of 65.41, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11. The stock's 50 day moving average price is $162.15 and its 200 day moving average price is $186.53.

Analyst Ratings Changes

WIX has been the topic of several research reports. Robert W. Baird raised shares of Wix.com from a "neutral" rating to an "outperform" rating and cut their price objective for the company from $215.00 to $190.00 in a report on Friday, May 23rd. Benchmark dropped their target price on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Wall Street Zen lowered Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th. Piper Sandler decreased their price objective on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Wix.com in a research report on Wednesday, May 21st. Three equities 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $228.95.

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.