Migdal Insurance & Financial Holdings Ltd. Sells 20,000 Shares of Wix.com Ltd. $WIX

Migdal Insurance & Financial Holdings Ltd. cut its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,534 shares of the information services provider’s stock after selling 20,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.20% of Wix.com worth $19,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC purchased a new stake in Wix.com in the second quarter worth $417,000. Geode Capital Management LLC grew its stake in shares of Wix.com by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 491,958 shares of the information services provider’s stock worth $77,466,000 after acquiring an additional 12,210 shares during the period. Schroder Investment Management Group increased its holdings in Wix.com by 34.8% in the 2nd quarter. Schroder Investment Management Group now owns 228,028 shares of the information services provider’s stock worth $36,133,000 after acquiring an additional 58,859 shares during the last quarter. ARK Investment Management LLC increased its holdings in Wix.com by 28.2% in the 2nd quarter. ARK Investment Management LLC now owns 10,290 shares of the information services provider’s stock worth $1,631,000 after acquiring an additional 2,266 shares during the last quarter. Finally, Liontrust Investment Partners LLP bought a new stake in Wix.com in the 2nd quarter valued at about $3,708,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of a number of research reports. Bank of America cut their target price on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Scotiabank cut their price objective on shares of Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a report on Thursday, November 20th. JMP Securities set a $185.00 price objective on shares of Wix.com in a research note on Thursday, November 20th. Zacks Research downgraded Wix.com from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Piper Sandler raised their price target on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $166.71.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $76.24 on Wednesday. The firm has a fifty day moving average price of $101.28 and a two-hundred day moving average price of $130.38. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.52 and a beta of 1.42. Wix.com Ltd. has a one year low of $75.00 and a one year high of $247.11.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.