Clearbridge Investments LLC Grows Stake in Wix.com Ltd. $WIX

Clearbridge Investments LLC lifted its position in Wix.com Ltd. (NASDAQ:WIX) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,079,489 shares of the information services provider’s stock after purchasing an additional 183,100 shares during the period. Clearbridge Investments LLC’s holdings in Wix.com were worth $112,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of Wix.com by 128.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after buying an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after buying an additional 1,609,989 shares during the last quarter. Dorsal Capital Management LP boosted its stake in shares of Wix.com by 50.0% in the 3rd quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock worth $279,767,000 after buying an additional 525,000 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Wix.com in the 4th quarter worth $150,622,000. Finally, Principal Financial Group Inc. lifted its position in Wix.com by 47.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,397,962 shares of the information services provider’s stock valued at $145,238,000 after purchasing an additional 449,699 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WIX has been the topic of several analyst reports. Citigroup downgraded Wix.com from a “buy” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $66.00 in a research report on Thursday, May 14th. Bank of America lowered their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings downgraded Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Robert W. Baird downgraded Wix.com from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $115.00 to $90.00 in a research report on Monday, March 9th. Finally, Citizens Jmp downgraded Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.90.

Wix.com Price Performance

Shares of Wix.com stock opened at $52.39 on Monday. The stock’s 50-day simple moving average is $69.06 and its 200-day simple moving average is $82.50. Wix.com Ltd. has a 52 week low of $51.33 and a 52 week high of $190.93. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -67.17 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $544.04 million. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Wix.com’s revenue was up 14.2% on a year-over-year basis. On average, equities analysts expect that Wix.com Ltd. will post -0.27 earnings per share for the current year.

Wix.com 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.