Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Wix.com Ltd. (NASDAQ:WIX)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Wix.com Ltd. (NASDAQ:WIX) by 32.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 301,508 shares of the information services provider’s stock after selling 144,032 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wix.com were worth $50,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WIX. 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 increased its holdings in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after buying an additional 171,500 shares during the period. Driehaus Capital Management LLC acquired a new position in Wix.com in the 2nd quarter worth approximately $13,646,000. 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. Finally, Lakehouse Capital Pty Ltd lifted its stake in Wix.com by 2,933.3% during the 2nd quarter. Lakehouse Capital Pty Ltd now owns 48,108 shares of the information services provider’s stock valued at $7,653,000 after acquiring an additional 46,522 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Trading Up 2.0 %

NASDAQ:WIX opened at $183.95 on Wednesday. The stock has a 50 day moving average of $166.46 and a two-hundred day moving average of $160.95. Wix.com Ltd. has a 12 month low of $95.39 and a 12 month high of $192.00. The firm has a market cap of $10.08 billion, a P/E ratio of 145.99, a price-to-earnings-growth ratio of 3.84 and a beta of 1.47.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WIX shares. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. StockNews.com lowered Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Finally, KeyCorp assumed coverage on shares of Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.06.

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.