Migdal Insurance & Financial Holdings Ltd. Acquires 15,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Migdal Insurance & Financial Holdings Ltd. raised its position in Wix.com Ltd. (NASDAQ:WIX) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,034 shares of the information services provider’s stock after purchasing an additional 15,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.47% of Wix.com worth $32,851,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WIX. Bank of New York Mellon Corp increased its stake in shares of Wix.com by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock valued at $31,669,000 after buying an additional 23,843 shares during the period. US Bancorp DE increased its stake in shares of Wix.com by 39.7% in the first quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock valued at $290,000 after buying an additional 791 shares during the period. Citigroup Inc. increased its stake in shares of Wix.com by 58.1% in the first quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock valued at $4,982,000 after buying an additional 17,530 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Wix.com in the first quarter valued at about $346,000. Finally, Ergoteles LLC grew its stake in Wix.com by 388.6% during the first quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock worth $4,609,000 after purchasing an additional 35,091 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WIX shares. Piper Sandler raised their target price on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada raised their price objective on Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. JMP Securities raised their price objective on Wix.com from $130.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 24th. B. Riley raised their price objective on Wix.com from $120.00 to $141.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Benchmark raised their price objective on Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

Wix.com Price Performance

Shares of WIX traded up $0.01 during mid-day trading on Wednesday, hitting $123.72. The stock had a trading volume of 148,160 shares, compared to its average volume of 556,293. The firm has a market cap of $6.89 billion, a P/E ratio of 224.93, a PEG ratio of 4.27 and a beta of 1.33. The business has a fifty day moving average price of $135.18 and a 200-day moving average price of $115.46. Wix.com Ltd. has a 52 week low of $73.39 and a 52 week high of $146.21.

Wix.com (NASDAQ:WIX) last issued its earnings results 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 firm had revenue of $403.80 million for the quarter, compared to analyst estimates 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 revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) earnings per share. As a group, research analysts expect that Wix.com Ltd. will post 1.16 earnings per share 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.