abrdn plc Lowers Position in Wix.com Ltd. (NASDAQ:WIX)

abrdn plc cut its holdings in Wix.com Ltd. (NASDAQ:WIX) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,092 shares of the information services provider’s stock after selling 1,120 shares during the quarter. abrdn plc’s holdings in Wix.com were worth $2,226,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. HighMark Wealth Management LLC acquired a new position in Wix.com in the 4th quarter worth approximately $26,000. BluePath Capital Management LLC acquired a new stake in shares of Wix.com during the 3rd quarter worth approximately $37,000. Headlands Technologies LLC acquired a new stake in shares of Wix.com during the 3rd quarter worth approximately $45,000. Algert Global LLC acquired a new stake in Wix.com in the 3rd quarter valued at $214,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Wix.com by 5.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 129 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

NASDAQ WIX opened at $120.81 on Monday. The company has a market cap of $6.72 billion, a P/E ratio of 219.65, a P/E/G ratio of 4.16 and a beta of 1.33. The stock has a 50-day moving average of $133.83 and a two-hundred day moving average of $117.59. Wix.com Ltd. has a 1-year low of $73.39 and a 1-year high of $146.21.

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

Analyst Ratings Changes

A number of research analysts have weighed in on WIX shares. UBS Group raised their price objective on Wix.com from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley decreased their price objective on Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada raised their price objective on Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Finally, Benchmark raised their price objective on Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Wix.com 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.