Cumberland Partners Ltd Increases Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd grew its stake in Wix.com Ltd. (NASDAQ:WIX) by 18.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,000 shares of the information services provider’s stock after buying an additional 3,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Wix.com were worth $3,176,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Wix.com by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,067 shares of the information services provider’s stock worth $16,728,000 after acquiring an additional 1,161 shares in the last quarter. Entropy Technologies LP raised its position in Wix.com by 19.2% in the 3rd quarter. Entropy Technologies LP now owns 4,959 shares of the information services provider’s stock worth $829,000 after purchasing an additional 800 shares during the period. WCM Investment Management LLC bought a new stake in Wix.com in the third quarter worth $5,027,000. GDS Wealth Management purchased a new stake in Wix.com during the third quarter valued at about $419,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Wix.com by 7.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 22,305 shares of the information services provider’s stock valued at $3,729,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 2.9 %

Shares of WIX stock traded up $5.37 during mid-day trading on Tuesday, reaching $189.01. 180,668 shares of the company’s stock traded hands, compared to its average volume of 539,657. The company’s 50-day moving average price is $163.52 and its 200-day moving average price is $158.27. The company has a market cap of $10.36 billion, a P/E ratio of 145.75, a P/E/G ratio of 3.67 and a beta of 1.47. Wix.com Ltd. has a 12 month low of $86.22 and a 12 month high of $192.00.

Analyst Upgrades and Downgrades

WIX has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. KeyCorp began coverage on shares of Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a report on Monday, October 7th. Barclays lowered their price objective on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

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.