abrdn plc Sells 10,011 Shares of Wix.com Ltd. (NASDAQ:WIX)

abrdn plc decreased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 74.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,468 shares of the information services provider’s stock after selling 10,011 shares during the quarter. abrdn plc’s holdings in Wix.com were worth $744,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WIX. Senvest Management LLC raised its position in shares of Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC raised its position in shares of Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after acquiring an additional 400,265 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Wix.com by 3.2% during the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock worth $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Wix.com by 23.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after purchasing an additional 49,500 shares during the period. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WIX shares. Piper Sandler lifted their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday, November 20th. Evercore ISI raised Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group boosted their target price on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Benchmark boosted their target price on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.61.

Wix.com Trading Up 1.8 %

WIX stock opened at $224.17 on Tuesday. The stock has a 50-day moving average price of $226.11 and a 200-day moving average price of $189.14. The firm has a market cap of $12.29 billion, a PE ratio of 140.11, a price-to-earnings-growth ratio of 2.48 and a beta of 1.58. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11.

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.