Cumberland Partners Ltd Purchases 4,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd increased its position in Wix.com Ltd. (NASDAQ:WIX) by 80.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,000 shares of the information services provider’s stock after purchasing an additional 4,000 shares during the period. Cumberland Partners Ltd’s holdings in Wix.com were worth $1,107,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HighMark Wealth Management LLC purchased a new position in Wix.com during the fourth quarter valued at $26,000. BluePath Capital Management LLC purchased a new position in Wix.com during the third quarter valued at $37,000. Headlands Technologies LLC purchased a new position in Wix.com during the third quarter valued at $45,000. Algert Global LLC purchased a new position in Wix.com during the third quarter valued at $214,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Wix.com by 5.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after buying an additional 129 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 2.0 %

Shares of Wix.com stock traded down $2.49 during trading hours on Wednesday, reaching $121.69. 291,284 shares of the stock traded hands, compared to its average volume of 544,350. Wix.com Ltd. has a one year low of $73.39 and a one year high of $146.21. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 225.78, a P/E/G ratio of 4.18 and a beta of 1.33. The company has a 50 day moving average price of $134.26 and a 200 day moving average price of $116.86.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. During the same period in the previous year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Sell-side analysts anticipate that Wix.com Ltd. will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

WIX has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Wix.com in a research report on Wednesday, February 21st. UBS Group lifted their price target on Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Piper Sandler lifted their price target on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. B. Riley lifted their price target on Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Barclays lifted their price objective on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and a consensus price target of $144.29.

Wix.com Company 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.