California Public Employees Retirement System Cuts Position in Wix.com Ltd. (NASDAQ:WIX)

California Public Employees Retirement System lessened its stake in Wix.com Ltd. (NASDAQ:WIX) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,377 shares of the information services provider’s stock after selling 3,104 shares during the quarter. California Public Employees Retirement System owned 0.17% of Wix.com worth $11,610,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WIX. Senvest Management LLC increased its holdings in shares of Wix.com by 194.2% in the 3rd quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after purchasing an additional 399,944 shares in the last quarter. Clearbridge Investments LLC grew its stake in Wix.com by 43.5% in the 3rd quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock valued at $99,759,000 after acquiring an additional 329,561 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in Wix.com in the 3rd quarter valued at about $29,590,000. Allspring Global Investments Holdings LLC grew its stake in Wix.com by 5,893.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 263,012 shares of the information services provider’s stock valued at $24,145,000 after acquiring an additional 258,624 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Wix.com by 10.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,093,569 shares of the information services provider’s stock valued at $100,390,000 after acquiring an additional 105,026 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ WIX opened at $118.99 on Thursday. Wix.com Ltd. has a one year low of $73.39 and a one year high of $146.21. The company’s 50 day moving average price is $133.30 and its 200 day moving average price is $118.10. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 216.35, a PEG ratio of 4.17 and a beta of 1.33.

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

Analyst Ratings Changes

A number of brokerages recently commented on WIX. Raymond James began coverage on shares of Wix.com in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price objective on the stock. UBS Group raised their price target on shares of Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Piper Sandler raised their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada raised their price target on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Wix.com 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.