Aigen Investment Management LP Makes New Investment in Wix.com Ltd. (NASDAQ:WIX)

Aigen Investment Management LP acquired a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,097 shares of the information services provider's stock, valued at approximately $664,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in shares of Wix.com in the fourth quarter worth $11,508,000. M&T Bank Corp bought a new position in Wix.com in the 4th quarter valued at about $643,000. Keybank National Association OH bought a new position in Wix.com in the 4th quarter valued at about $204,000. Charles Schwab Investment Management Inc. raised its position in shares of Wix.com by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,973 shares of the information services provider's stock valued at $7,933,000 after buying an additional 612 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Wix.com during the 4th quarter worth approximately $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of recent analyst reports. UBS Group set a $250.00 price objective on shares of Wix.com in a research note on Wednesday, March 5th. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Piper Sandler raised their price objective on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Robert W. Baird boosted their target price on Wix.com from $175.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Finally, Scotiabank assumed coverage on shares of Wix.com in a research note on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.74.

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Wix.com Stock Performance

Shares of WIX stock traded down $16.16 during mid-day trading on Monday, hitting $170.40. The company's stock had a trading volume of 1,196,521 shares, compared to its average volume of 585,336. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The company's fifty day simple moving average is $221.14 and its 200-day simple moving average is $196.02. The company has a market cap of $9.34 billion, a PE ratio of 72.51, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has initiated a share repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

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.