Lord Abbett & CO. LLC Invests $6.59 Million in Wix.com Ltd. (NASDAQ:WIX)

Lord Abbett & CO. LLC acquired a new stake in Wix.com Ltd. (NASDAQ:WIX) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 47,905 shares of the information services provider’s stock, valued at approximately $6,586,000.

A number of other large investors have also recently added to or reduced their stakes in the business. SageView Advisory Group LLC acquired a new stake in Wix.com in the 1st quarter valued at about $1,234,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Wix.com by 36.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after acquiring an additional 8,422 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Wix.com by 2,110.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock valued at $9,568,000 after acquiring an additional 66,447 shares during the last quarter. Entropy Technologies LP acquired a new stake in Wix.com in the 1st quarter valued at about $915,000. Finally, US Bancorp DE grew its stake in Wix.com by 42.0% in the 1st quarter. US Bancorp DE now owns 10,050 shares of the information services provider’s stock valued at $1,382,000 after acquiring an additional 2,974 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Up 0.4 %

Shares of WIX traded up $0.62 during mid-day trading on Friday, hitting $163.30. The company had a trading volume of 544,525 shares, compared to its average volume of 624,508. The business’s 50-day simple moving average is $159.50 and its 200-day simple moving average is $140.03. Wix.com Ltd. has a 1-year low of $76.90 and a 1-year high of $178.65. The stock has a market cap of $9.34 billion, a PE ratio of 143.24, a P/E/G ratio of 3.82 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The firm had revenue of $419.78 million for the quarter, compared to analysts’ expectations of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. On average, sell-side analysts expect that Wix.com Ltd. will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Wix.com from $148.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Oppenheimer increased their price objective on shares of Wix.com from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, May 25th. JMP Securities raised their price target on shares of Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 21st. Finally, 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 price target on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $175.59.

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.