Wix.com Ltd. $WIX Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 74.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,780 shares of the information services provider’s stock after selling 135,536 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wix.com were worth $7,372,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the period. Smartleaf Asset Management LLC raised its holdings in Wix.com by 8.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after purchasing an additional 79 shares during the period. Yousif Capital Management LLC raised its holdings in Wix.com by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock worth $299,000 after purchasing an additional 85 shares during the period. Signaturefd LLC raised its holdings in Wix.com by 3.3% in the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock worth $556,000 after purchasing an additional 109 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Wix.com by 28.4% in the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James Financial reissued a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. JMP Securities reissued a “market outperform” rating and set a $210.00 target price on shares of Wix.com in a report on Friday, October 3rd. Barclays set a $235.00 target price on Wix.com and gave the company an “overweight” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. reduced their target price on Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $215.37.

Wix.com Stock Performance

NASDAQ:WIX opened at $130.82 on Monday. Wix.com Ltd. has a one year low of $114.89 and a one year high of $247.11. The stock has a market cap of $7.34 billion, a PE ratio of 46.56, a P/E/G ratio of 2.44 and a beta of 1.32. The stock has a 50 day moving average price of $148.82 and a 200 day moving average price of $154.16.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The firm had revenue of $489.93 million during the quarter, compared to analysts’ expectations of $487.62 million. During the same quarter last year, the firm earned $1.67 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts predict that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.