Allspring Global Investments Holdings LLC Sells 81,958 Shares of Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC lessened its position in Wix.com Ltd. (NASDAQ:WIX) by 45.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,772 shares of the information services provider’s stock after selling 81,958 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wix.com were worth $16,177,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WIX. Blue Trust Inc. increased its position in shares of Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. CWM LLC increased its position in shares of Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after acquiring an additional 101 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after acquiring an additional 124 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Wix.com by 2.9% during the second quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after acquiring an additional 136 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Wix.com by 4.7% during the second quarter. Signaturefd LLC now owns 3,269 shares of the information services provider’s stock worth $520,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and set a $180.00 price objective on shares of Wix.com in a research report on Thursday, July 25th. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $184.00 to $200.00 in a report on Monday, September 23rd. Benchmark increased their target price on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Price Performance

Shares of WIX opened at $162.46 on Friday. The firm has a market capitalization of $9.29 billion, a PE ratio of 142.51, a PEG ratio of 3.55 and a beta of 1.48. The company’s 50-day moving average is $163.44 and its 200-day moving average is $154.71. Wix.com Ltd. has a fifty-two week low of $76.90 and a fifty-two week high of $179.00.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. Analysts predict that Wix.com Ltd. will post 2.1 earnings per share for the current fiscal year.

Wix.com Company Profile

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.