Wix.com Ltd. $WIX Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC reduced its stake in Wix.com Ltd. (NASDAQ:WIX) by 99.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,380 shares of the information services provider’s stock after selling 14,840,370 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Wix.com were worth $1,666,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in Wix.com by 25.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock worth $95,000 after acquiring an additional 121 shares during the period. Blue Trust Inc. lifted its holdings in shares of Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares during the period. Asset Management One Co. Ltd. boosted its position in Wix.com by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock valued at $3,524,000 after buying an additional 154 shares during the last quarter. TD Asset Management Inc increased its holdings in Wix.com by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 21,218 shares of the information services provider’s stock worth $3,362,000 after buying an additional 161 shares during the period. Finally, Cerity Partners LLC raised its position in Wix.com by 13.4% during the 2nd quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Wix.com stock opened at $89.73 on Tuesday. The firm has a 50 day simple moving average of $97.95 and a 200-day simple moving average of $128.29. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.78 and a beta of 1.42. Wix.com Ltd. has a 1-year low of $75.00 and a 1-year high of $247.11.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JMP Securities set a $185.00 target price on Wix.com in a research note on Thursday, November 20th. Barclays lowered their price objective on Wix.com from $210.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Morgan Stanley cut their target price on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Wells Fargo & Company lowered their price target on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a report on Friday, December 19th. Finally, Oppenheimer cut their price objective on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.86.

Wix.com Company Profile

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.