Bayesian Capital Management LP Makes New $779,000 Investment in Wix.com Ltd. (NASDAQ:WIX)

Bayesian Capital Management LP bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,667 shares of the information services provider’s stock, valued at approximately $779,000.

Several other large investors also recently added to or reduced their stakes in WIX. DekaBank Deutsche Girozentrale lifted its stake in shares of Wix.com by 7.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,678 shares of the information services provider’s stock worth $333,000 after buying an additional 192 shares during the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of Wix.com in the fourth quarter worth $26,000. Natixis Advisors L.P. raised its stake in Wix.com by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock valued at $1,350,000 after purchasing an additional 214 shares during the last quarter. Northwest Bank & Trust Co bought a new stake in Wix.com in the 4th quarter valued at $26,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Wix.com in the 1st quarter worth $37,000. 81.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WIX shares. UBS Group increased their target price on shares of Wix.com from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Royal Bank of Canada raised their price target on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. KeyCorp initiated coverage on shares of Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating for the company. Citigroup raised their price target on shares of Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Piper Sandler lowered shares of Wix.com from an “overweight” rating to a “neutral” rating and raised their price target for the company from $165.00 to $184.00 in a report on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $180.31.

Wix.com Stock Performance

WIX traded down $0.92 during trading on Tuesday, reaching $155.08. 416,093 shares of the company’s stock were exchanged, compared to its average volume of 611,600. The company’s fifty day moving average price is $162.85 and its 200-day moving average price is $142.31. The firm has a market capitalization of $8.87 billion, a PE ratio of 136.84, a P/E/G ratio of 3.68 and a beta of 1.47. Wix.com Ltd. has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. The company had revenue of $419.78 million for the quarter, compared to analysts’ expectations of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. Research analysts forecast that Wix.com Ltd. will post 1.91 earnings per share for the current fiscal year.

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.