Principal Financial Group Inc. Has $155.09 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Principal Financial Group Inc. lowered its stake in Wix.com Ltd. (NASDAQ:WIX) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 927,709 shares of the information services provider’s stock after selling 9,010 shares during the quarter. Principal Financial Group Inc. owned about 1.69% of Wix.com worth $155,085,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dorsal Capital Management LP raised its stake in Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares in the last quarter. Senvest Management LLC raised its position in shares of Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after purchasing an additional 50,482 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its position in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after purchasing an additional 165,810 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WIX shares. Cantor Fitzgerald lifted their price target on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. B. Riley upped their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Benchmark increased their target price on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird boosted their price target on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada upped their price objective on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.71.

Wix.com Price Performance

Wix.com stock opened at $217.43 on Friday. The company’s 50-day moving average is $192.56 and its 200-day moving average is $172.19. The firm has a market capitalization of $11.92 billion, a PE ratio of 135.89, a P/E/G ratio of 4.22 and a beta of 1.55. Wix.com Ltd. has a fifty-two week low of $114.18 and a fifty-two week high of $229.79.

About Wix.com

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.