Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Wix.com Ltd. (NASDAQ:WIX)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wix.com Ltd. (NASDAQ:WIX) by 73.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,068 shares of the information services provider’s stock after purchasing an additional 14,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Wix.com worth $4,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its stake in Wix.com by 5.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after purchasing an additional 129 shares during the period. Rockefeller Capital Management L.P. grew its stake in Wix.com by 21.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 763 shares of the information services provider’s stock worth $56,000 after purchasing an additional 136 shares during the period. First Republic Investment Management Inc. grew its stake in Wix.com by 2.7% in the second quarter. First Republic Investment Management Inc. now owns 6,310 shares of the information services provider’s stock worth $414,000 after purchasing an additional 167 shares during the period. HighMark Wealth Management LLC purchased a new stake in Wix.com in the fourth quarter worth $26,000. Finally, Alliancebernstein L.P. grew its stake in Wix.com by 0.8% in the third quarter. Alliancebernstein L.P. now owns 34,442 shares of the information services provider’s stock worth $2,694,000 after purchasing an additional 260 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $121.41 on Monday. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 220.75, a PEG ratio of 4.18 and a beta of 1.33. The stock’s 50-day simple moving average is $134.44 and its two-hundred day simple moving average is $116.38. Wix.com Ltd. has a 52-week low of $73.39 and a 52-week high of $146.21.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted ($0.42) earnings per share. As a group, equities analysts forecast that Wix.com Ltd. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. B. Riley upped their price target on Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Barclays boosted their target price on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Royal Bank of Canada boosted their target price on Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, JMP Securities boosted their target price on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.29.

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.