Dai ichi Life Insurance Company Ltd Reduces Position in Wix.com Ltd. (NASDAQ:WIX)

Dai ichi Life Insurance Company Ltd lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,816 shares of the information services provider’s stock after selling 200 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Wix.com were worth $638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares during the period. Renaissance Technologies LLC boosted its position in Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Wix.com in the 2nd quarter worth approximately $13,646,000. Senvest Management LLC raised its position in Wix.com by 4.7% during the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after buying an additional 50,482 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after buying an additional 49,500 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Down 1.6 %

WIX opened at $218.91 on Friday. The company has a market cap of $12.00 billion, a PE ratio of 136.82, a price-to-earnings-growth ratio of 4.28 and a beta of 1.47. Wix.com Ltd. has a twelve month low of $97.07 and a twelve month high of $224.33. The company has a 50-day moving average price of $175.65 and a 200 day moving average price of $165.56.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WIX. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Wednesday, November 20th. Royal Bank of Canada upped their price target on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald lifted their price objective on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America upped their target price on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong 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 $210.71.

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.