Allspring Global Investments Holdings LLC Sells 42,071 Shares of Wix.com Ltd. (NASDAQ:WIX)

Allspring Global Investments Holdings LLC trimmed its stake in Wix.com Ltd. (NASDAQ:WIX) by 14.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,045 shares of the information services provider’s stock after selling 42,071 shares during the period. Allspring Global Investments Holdings LLC owned about 0.43% of Wix.com worth $33,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. HighMark Wealth Management LLC bought a new position in Wix.com in the fourth quarter worth approximately $26,000. Northwest Bank & Trust Co purchased a new stake in shares of Wix.com in the 4th quarter worth $26,000. Principal Securities Inc. bought a new position in shares of Wix.com during the 4th quarter worth $93,000. Lakehouse Capital Pty Ltd purchased a new position in shares of Wix.com during the first quarter valued at $218,000. Finally, Optimist Retirement Group LLC bought a new stake in shares of Wix.com in the fourth quarter valued at about $201,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WIX has been the subject of several research reports. Bank of America upped their price target on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada lifted their price target on Wix.com from $160.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Piper Sandler cut Wix.com from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $165.00 to $184.00 in a research note on Tuesday, May 21st. Benchmark raised their price objective on Wix.com from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wix.com from $148.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $175.59.

Wix.com Stock Down 1.0 %

Wix.com stock opened at $156.10 on Friday. The stock has a 50-day moving average price of $151.27 and a 200 day moving average price of $137.27. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 136.93, a price-to-earnings-growth ratio of 3.69 and a beta of 1.47. Wix.com Ltd. has a 52 week low of $75.09 and a 52 week high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Monday, May 20th. The information services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. The business had revenue of $419.78 million during the quarter, compared to analysts’ expectations of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. Research analysts anticipate that Wix.com Ltd. will post 1.91 EPS for the current fiscal 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.