Cumberland Partners Ltd Sells 2,500 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd trimmed its position in Wix.com Ltd. (NASDAQ:WIX) by 13.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,500 shares of the information services provider’s stock after selling 2,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Wix.com were worth $3,540,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after acquiring an additional 49,500 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Wix.com in the fourth quarter worth $256,000. Oppenheimer & Co. Inc. acquired a new position in Wix.com during the third quarter worth $461,000. Finally, Loomis Sayles & Co. L P grew its position in Wix.com by 23.9% in the third quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider’s stock valued at $31,552,000 after purchasing an additional 36,459 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the topic of several analyst reports. Cantor Fitzgerald increased their price objective on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Evercore ISI raised Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. Benchmark raised their price target on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their price objective on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, B. Riley raised their target price on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $217.00 on Thursday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 135.63, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company’s 50 day simple moving average is $227.05 and its 200 day simple moving average is $192.90.

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.