BNP Paribas Financial Markets Acquires 2,417 Shares of Wix.com Ltd. (NASDAQ:WIX)

BNP Paribas Financial Markets boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,876 shares of the information services provider’s stock after acquiring an additional 2,417 shares during the period. BNP Paribas Financial Markets’ holdings in Wix.com were worth $2,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WIX. HighMark Wealth Management LLC purchased a new position in shares of Wix.com in the 4th quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Wix.com during the 3rd quarter valued at $45,000. Principal Securities Inc. purchased a new stake in shares of Wix.com in the 4th quarter worth about $93,000. Counterpoint Mutual Funds LLC increased its stake in shares of Wix.com by 94.1% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,284 shares of the information services provider’s stock worth $281,000 after acquiring an additional 1,107 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Wix.com during the 3rd quarter valued at about $214,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

WIX stock opened at $165.21 on Friday. Wix.com Ltd. has a 1 year low of $73.39 and a 1 year high of $174.09. The stock’s fifty day moving average price is $132.13 and its 200-day moving average price is $123.59. The company has a market cap of $9.45 billion, a P/E ratio of 144.92, a price-to-earnings-growth ratio of 6.48 and a beta of 1.34.

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, beating the consensus estimate of $0.98 by $0.24. The company had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) earnings per share. As a group, analysts expect that Wix.com Ltd. will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WIX shares. Morgan Stanley raised their target price on shares of Wix.com from $143.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on Wix.com from $160.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday. JMP Securities boosted their target price on Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a report on Tuesday. Raymond James initiated coverage on Wix.com in a report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Piper Sandler cut shares of Wix.com from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $165.00 to $184.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $170.81.

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.