Nisa Investment Advisors LLC Cuts Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Nisa Investment Advisors LLC decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,060 shares of the information services provider’s stock after selling 540 shares during the period. Nisa Investment Advisors LLC’s holdings in Wix.com were worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of WIX. Semanteon Capital Management LP raised its stake in Wix.com by 255.5% in the third quarter. Semanteon Capital Management LP now owns 4,526 shares of the information services provider’s stock valued at $757,000 after buying an additional 3,253 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Wix.com by 7.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,275 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 165 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Wix.com by 10.7% in the 3rd quarter. Mediolanum International Funds Ltd now owns 13,400 shares of the information services provider’s stock worth $2,251,000 after purchasing an additional 1,295 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Wix.com by 13.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 13,519 shares of the information services provider’s stock worth $2,260,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Wix.com by 72.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,931 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 2,075 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WIX. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. Barclays lowered their price target on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. UBS Group increased their price objective on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating for the company. Finally, StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $163.94 on Monday. The business’s 50 day moving average price is $163.24 and its 200-day moving average price is $156.65. Wix.com Ltd. has a 1 year low of $80.10 and a 1 year high of $179.00. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 130.11, a price-to-earnings-growth ratio of 3.56 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. On average, sell-side analysts expect that Wix.com Ltd. will post 2.1 earnings per share for the current year.

About Wix.com

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.