Wix.com Ltd. (NASDAQ:WIX) Holdings Lifted by Cumberland Partners Ltd

Cumberland Partners Ltd increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 80.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the information services provider’s stock after acquiring an additional 4,000 shares during the period. Cumberland Partners Ltd’s holdings in Wix.com were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WIX. HighMark Wealth Management LLC acquired a new stake in Wix.com during the fourth quarter valued at approximately $26,000. BluePath Capital Management LLC acquired a new stake in Wix.com during the third quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new stake in Wix.com during the third quarter valued at approximately $45,000. Algert Global LLC acquired a new stake in Wix.com during the third quarter valued at approximately $214,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Wix.com by 5.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 129 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on WIX shares. Raymond James started coverage on shares of Wix.com in a research note on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price for the company. Barclays raised their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Piper Sandler raised their price objective on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. B. Riley raised their price objective on shares of Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, JMP Securities raised their price objective on shares of Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.29.

Wix.com Price Performance

Shares of WIX stock traded down $2.49 on Wednesday, hitting $121.69. The company’s stock had a trading volume of 291,284 shares, compared to its average volume of 544,350. Wix.com Ltd. has a fifty-two week low of $73.39 and a fifty-two week high of $146.21. The firm’s fifty day moving average price is $134.26 and its 200-day moving average price is $116.86. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 225.78, a P/E/G ratio of 4.18 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.42) EPS. Analysts predict that Wix.com Ltd. will post 1.16 EPS for the current fiscal year.

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.