Munro Partners Raises Position in Wix.com Ltd. $WIX

Munro Partners lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 36.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,055 shares of the information services provider’s stock after buying an additional 5,855 shares during the quarter. Munro Partners’ holdings in Wix.com were worth $3,918,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GC Wealth Management RIA LLC acquired a new position in shares of Wix.com during the second quarter worth $417,000. Geode Capital Management LLC grew its holdings in Wix.com by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 491,958 shares of the information services provider’s stock valued at $77,466,000 after purchasing an additional 12,210 shares in the last quarter. Schroder Investment Management Group increased its stake in Wix.com by 34.8% during the 2nd quarter. Schroder Investment Management Group now owns 228,028 shares of the information services provider’s stock worth $36,133,000 after buying an additional 58,859 shares during the period. ARK Investment Management LLC increased its stake in Wix.com by 28.2% during the 2nd quarter. ARK Investment Management LLC now owns 10,290 shares of the information services provider’s stock worth $1,631,000 after buying an additional 2,266 shares during the period. Finally, Senvest Management LLC lifted its holdings in Wix.com by 32.2% in the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock worth $323,403,000 after buying an additional 496,770 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI lowered their target price on Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Benchmark lowered their price objective on Wix.com from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Citigroup dropped their price objective on Wix.com from $197.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Wells Fargo & Company reduced their target price on Wix.com from $184.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Scotiabank decreased their price target on shares of Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.67.

Wix.com Stock Down 1.6%

NASDAQ:WIX opened at $104.71 on Wednesday. The company has a market cap of $5.88 billion, a PE ratio of 44.75, a P/E/G ratio of 2.10 and a beta of 1.42. The business’s 50 day moving average is $117.72 and its two-hundred day moving average is $139.19. Wix.com Ltd. has a 52 week low of $92.23 and a 52 week high of $247.11.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.