Handelsbanken Fonder AB Sells 2,475 Shares of Wix.com Ltd. (NASDAQ:WIX)

Handelsbanken Fonder AB lowered its position in Wix.com Ltd. (NASDAQ:WIX) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,399 shares of the information services provider’s stock after selling 2,475 shares during the period. Handelsbanken Fonder AB’s holdings in Wix.com were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. G2 Investment Partners Management LLC bought a new position in Wix.com in the 4th quarter valued at $7,984,000. Par Capital Management Inc. increased its stake in Wix.com by 63.6% in the 4th quarter. Par Capital Management Inc. now owns 9,000 shares of the information services provider’s stock worth $1,107,000 after buying an additional 3,500 shares during the period. Optimist Retirement Group LLC bought a new stake in Wix.com during the 4th quarter valued at about $201,000. Sierra Summit Advisors LLC purchased a new stake in Wix.com in the 4th quarter valued at about $238,000. Finally, Northwest Bank & Trust Co bought a new position in Wix.com in the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 3.7 %

NASDAQ:WIX opened at $167.10 on Friday. The company has a market capitalization of $9.55 billion, a P/E ratio of 146.58, a PEG ratio of 3.40 and a beta of 1.48. Wix.com Ltd. has a 12 month low of $76.90 and a 12 month high of $178.65. The firm has a fifty day simple moving average of $161.29 and a 200-day simple moving average of $152.52.

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

Wall Street Analyst Weigh In

WIX has been the subject of a number of research reports. KeyCorp started coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating for the company. UBS Group increased their price target on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday. 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. Finally, Benchmark boosted their price target on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

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.