Circumference Group LLC Sells 7,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Circumference Group LLC decreased its position in Wix.com Ltd. (NASDAQ:WIX) by 25.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,000 shares of the information services provider’s stock after selling 7,000 shares during the period. Wix.com comprises approximately 3.5% of Circumference Group LLC’s portfolio, making the stock its 14th biggest holding. Circumference Group LLC’s holdings in Wix.com were worth $3,343,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WIX. Maverick Capital Ltd. bought a new stake in shares of Wix.com in the third quarter worth about $890,000. Fred Alger Management LLC lifted its holdings in Wix.com by 311.7% in the 3rd quarter. Fred Alger Management LLC now owns 50,979 shares of the information services provider’s stock worth $8,522,000 after buying an additional 38,597 shares during the period. Captrust Financial Advisors grew its position in shares of Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after buying an additional 201,532 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Wix.com by 84.7% during the third quarter. Vinva Investment Management Ltd now owns 57,709 shares of the information services provider’s stock valued at $9,794,000 after buying an additional 26,459 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in shares of Wix.com by 23.4% during the third quarter. Public Sector Pension Investment Board now owns 27,415 shares of the information services provider’s stock valued at $4,583,000 after acquiring an additional 5,200 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Performance

Shares of WIX stock opened at $223.74 on Monday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 139.84, a price-to-earnings-growth ratio of 4.30 and a beta of 1.55. Wix.com Ltd. has a one year low of $100.13 and a one year high of $224.33. The company’s 50-day moving average is $176.92 and its 200 day moving average is $166.67.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WIX shares. JPMorgan Chase & Co. lifted their price target on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday, November 20th. Piper Sandler raised their price objective on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Finally, UBS Group raised their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.71.

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.