Clearbridge Investments LLC Increases Position in Wix.com Ltd. (NASDAQ:WIX)

Clearbridge Investments LLC lifted its position in Wix.com Ltd. (NASDAQ:WIX) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164,136 shares of the information services provider’s stock after purchasing an additional 20,342 shares during the period. Clearbridge Investments LLC owned about 2.09% of Wix.com worth $160,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighMark Wealth Management LLC bought a new position in shares of Wix.com during the fourth quarter worth $26,000. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the fourth quarter worth $26,000. Fidelis Capital Partners LLC bought a new position in shares of Wix.com during the first quarter worth $37,000. Principal Securities Inc. bought a new position in shares of Wix.com during the fourth quarter worth $93,000. Finally, Optimist Retirement Group LLC bought a new position in shares of Wix.com during the fourth quarter worth $201,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Performance

WIX stock traded up $2.62 during trading on Tuesday, reaching $168.74. The company had a trading volume of 268,078 shares, compared to its average volume of 619,551. Wix.com Ltd. has a twelve month low of $76.90 and a twelve month high of $178.65. The firm has a 50-day simple moving average of $161.10 and a 200-day simple moving average of $140.98. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 148.02, a price-to-earnings-growth ratio of 3.86 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

Several research firms have commented on WIX. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Wix.com in a research report on Monday, May 20th. JMP Securities raised their target price on shares of Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 21st. Bank of America raised their price target on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Royal Bank of Canada raised their price target on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, UBS Group raised their price target on shares of Wix.com from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus price target of $175.59.

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.