Allspring Global Investments Holdings LLC Increases Holdings in Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC boosted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,116 shares of the information services provider's stock after purchasing an additional 19,104 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.49% of Wix.com worth $34,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Wix.com by 2.9% during the first quarter. BlackRock Inc. now owns 3,800,140 shares of the information services provider's stock worth $379,254,000 after purchasing an additional 106,217 shares during the period. Wellington Management Group LLP boosted its position in Wix.com by 10.6% during the third quarter. Wellington Management Group LLP now owns 1,093,569 shares of the information services provider's stock worth $100,390,000 after purchasing an additional 105,026 shares during the period. Clearbridge Investments LLC boosted its position in Wix.com by 43.5% during the third quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider's stock worth $99,759,000 after purchasing an additional 329,561 shares during the period. Millennium Management LLC boosted its position in shares of Wix.com by 139.8% in the fourth quarter. Millennium Management LLC now owns 895,821 shares of the information services provider's stock valued at $68,826,000 after acquiring an additional 522,264 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Wix.com by 32.3% in the second quarter. Goldman Sachs Group Inc. now owns 738,826 shares of the information services provider's stock valued at $57,806,000 after acquiring an additional 180,229 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Down 3.2 %

NASDAQ WIX traded down $4.27 during trading on Friday, hitting $127.14. 606,247 shares of the company's stock were exchanged, compared to its average volume of 365,069. The company has a market cap of $7.08 billion, a PE ratio of 231.16, a P/E/G ratio of 4.52 and a beta of 1.33. Wix.com Ltd. has a fifty-two week low of $73.39 and a fifty-two week high of $146.21. The stock's 50 day moving average price is $135.26 and its two-hundred day moving average price is $115.05.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. Analysts forecast that Wix.com Ltd. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WIX shares. Royal Bank of Canada boosted their target price on shares of Wix.com from $135.00 to $160.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. Benchmark boosted their target price on shares of Wix.com from $132.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Wix.com in a research report on Wednesday, February 21st. UBS Group boosted their target price on shares of Wix.com from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Finally, Raymond James started coverage on shares of Wix.com in a research report on Wednesday, March 27th. They issued an "outperform" rating and a $160.00 target price for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.00.

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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.