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

Clearbridge Investments LLC lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,143,794 shares of the information services provider's stock after buying an additional 57,090 shares during the period. Clearbridge Investments LLC owned approximately 2.00% of Wix.com worth $140,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Wix.com by 6.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider's stock valued at $32,851,000 after buying an additional 15,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Wix.com by 112.1% during the third quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider's stock worth $4,446,000 after buying an additional 25,600 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Wix.com by 13.5% during the fourth quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider's stock worth $472,000 after purchasing an additional 450 shares during the period. Assenagon Asset Management S.A. boosted its stake in Wix.com by 208.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,176 shares of the information services provider's stock worth $5,312,000 after purchasing an additional 29,194 shares during the period. Finally, 13D Management LLC lifted its position in shares of Wix.com by 49.1% in the third quarter. 13D Management LLC now owns 96,336 shares of the information services provider's stock worth $8,844,000 after purchasing an additional 31,736 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Performance

NASDAQ:WIX traded up $4.98 during midday trading on Tuesday, reaching $173.00. 1,830,013 shares of the stock traded hands, compared to its average volume of 619,829. Wix.com Ltd. has a 12-month low of $73.39 and a 12-month high of $174.09. The business has a 50-day moving average of $131.64 and a two-hundred day moving average of $123.28. The stock has a market capitalization of $9.63 billion, a PE ratio of 314.55, a price-to-earnings-growth ratio of 4.67 and a beta of 1.34.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company had revenue of $403.80 million during the quarter, compared to analysts' expectations of $416.87 million. During the same period last year, the business posted ($0.42) earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. Research analysts anticipate that Wix.com Ltd. will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on WIX shares. Morgan Stanley lifted their target price on shares of Wix.com from $143.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday. StockNews.com downgraded shares of Wix.com from a "buy" rating to a "hold" rating in a research note on Friday. B. Riley raised their target price on Wix.com from $154.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Raymond James started coverage on Wix.com in a research report on Wednesday, March 27th. They set an "outperform" rating and a $160.00 target price on the stock. Finally, Oppenheimer raised their price objective on shares of Wix.com from $160.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of "Moderate Buy" and a consensus target price of $170.81.

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.