Clearbridge Investments LLC Buys 183,100 Shares of Wix.com Ltd. $WIX

Clearbridge Investments LLC boosted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,079,489 shares of the information services provider’s stock after buying an additional 183,100 shares during the period. Clearbridge Investments LLC owned approximately 1.92% of Wix.com worth $112,148,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WIX. Scotiabank reduced their price objective on Wix.com from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Piper Sandler started coverage on Wix.com in a research report on Thursday, March 12th. They set a “neutral” rating and a $98.00 price objective for the company. Cantor Fitzgerald cut their target price on Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Robert W. Baird downgraded Wix.com from an “outperform” rating to a “neutral” rating and cut their target price for the company from $115.00 to $90.00 in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. cut their target price on Wix.com from $91.00 to $86.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.90.

Wix.com Stock Performance

Shares of WIX opened at $52.39 on Monday. The business’s fifty day simple moving average is $69.06 and its two-hundred day simple moving average is $82.50. Wix.com Ltd. has a 12 month low of $51.33 and a 12 month high of $190.93. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -67.17 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last issued its earnings results 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). The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. As a group, research analysts forecast that Wix.com Ltd. will post -0.27 EPS for the current year.

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.