Concorde Asset Management LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,323 shares of the information services provider’s stock, valued at approximately $847,000.
A number of other large investors have also recently modified their holdings of WIX. Winslow Capital Management LLC lifted its stake in Wix.com by 22.5% in the second quarter. Winslow Capital Management LLC now owns 906,015 shares of the information services provider’s stock worth $232,139,000 after acquiring an additional 166,175 shares during the period. TD Asset Management Inc. boosted its stake in shares of Wix.com by 305.2% in the 2nd quarter. TD Asset Management Inc. now owns 164,809 shares of the information services provider’s stock valued at $42,227,000 after buying an additional 124,139 shares during the period. Advisor Group Holdings Inc. purchased a new position in shares of Wix.com in the 1st quarter valued at about $424,000. Two Sigma Advisers LP boosted its stake in shares of Wix.com by 42.0% in the 2nd quarter. Two Sigma Advisers LP now owns 343,300 shares of the information services provider’s stock valued at $87,960,000 after buying an additional 101,600 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Wix.com by 3.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,726,013 shares of the information services provider’s stock valued at $698,459,000 after buying an additional 91,312 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.
WIX stock traded down $5.98 on Monday, reaching $265.89. 8,662 shares of the company’s stock were exchanged, compared to its average volume of 797,845. The stock has a fifty day moving average of $264.37 and a 200-day moving average of $234.94. Wix.com Ltd. has a twelve month low of $76.81 and a twelve month high of $319.34. The firm has a market cap of $15.13 billion, a PE ratio of -102.56 and a beta of 1.64. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.81.
Several equities analysts have recently issued reports on the company. TheStreet upgraded Wix.com from a “d” rating to a “c-” rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Wix.com from $220.00 to $342.00 in a research note on Monday, August 10th. Oppenheimer boosted their target price on Wix.com from $305.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. BidaskClub upgraded Wix.com from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Finally, Guggenheim boosted their target price on Wix.com from $235.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $293.94.
Wix.com Ltd, together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.
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