Driehaus Capital Management LLC Buys New Holdings in Wix.com Ltd. (NASDAQ:WIX)

Driehaus Capital Management LLC bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 85,785 shares of the information services provider’s stock, valued at approximately $13,646,000. Driehaus Capital Management LLC owned about 0.15% of Wix.com as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of WIX. Norges Bank acquired a new stake in Wix.com in the 4th quarter valued at about $34,554,000. US Bancorp DE lifted its stake in Wix.com by 105.8% in the 4th quarter. US Bancorp DE now owns 7,076 shares of the information services provider’s stock valued at $870,000 after purchasing an additional 3,637 shares during the last quarter. TD Asset Management Inc raised its holdings in Wix.com by 2.7% in the 4th quarter. TD Asset Management Inc now owns 14,913 shares of the information services provider’s stock valued at $1,835,000 after acquiring an additional 386 shares during the period. California State Teachers Retirement System lifted its position in Wix.com by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 51,110 shares of the information services provider’s stock worth $6,288,000 after acquiring an additional 1,026 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in Wix.com during the fourth quarter worth approximately $1,336,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

WIX opened at $168.30 on Friday. The business’s fifty day moving average is $160.82 and its 200-day moving average is $151.18. The firm has a market cap of $9.62 billion, a P/E ratio of 147.63, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47. Wix.com Ltd. has a 52-week low of $76.90 and a 52-week high of $178.65.

Wix.com (NASDAQ:WIX) last released 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 business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’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, research analysts predict that Wix.com Ltd. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WIX. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a research report on Monday, September 23rd. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. KeyCorp started coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Finally, Bank of America increased their price objective on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Three investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.19.

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.