Cwm LLC Buys 101 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cwm LLC raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 19.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632 shares of the information services provider’s stock after buying an additional 101 shares during the quarter. Cwm LLC’s holdings in Wix.com were worth $106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in Wix.com in the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. lifted its stake in Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares in the last quarter. Toronto Dominion Bank lifted its stake in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Wix.com in the 1st quarter worth approximately $214,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Wix.com in the 2nd quarter worth approximately $259,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WIX shares. JMP Securities reissued a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $184.00 to $200.00 in a research report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wix.com in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Price Performance

NASDAQ:WIX opened at $164.27 on Friday. The firm has a market cap of $9.39 billion, a PE ratio of 144.10, a price-to-earnings-growth ratio of 3.55 and a beta of 1.48. The company has a 50-day moving average of $163.45 and a 200 day moving average of $154.92. Wix.com Ltd. has a 1-year low of $76.90 and a 1-year high of $179.00.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. Wix.com’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Sell-side analysts anticipate that Wix.com Ltd. will post 2.1 EPS for the current fiscal year.

Wix.com Profile

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.