Analyst IMS Investment Management Services Ltd. reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,094 shares of the information services provider's stock after selling 2,965 shares during the period. Wix.com makes up 2.2% of Analyst IMS Investment Management Services Ltd.'s investment portfolio, making the stock its 5th largest holding. Analyst IMS Investment Management Services Ltd. owned about 0.52% of Wix.com worth $60,953,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of WIX. Senvest Management LLC lifted its holdings in shares of Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider's stock valued at $186,910,000 after purchasing an additional 50,482 shares in the last quarter. Whale Rock Capital Management LLC raised its position in 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 buying an additional 165,810 shares during the last quarter. SG Americas Securities LLC lifted its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after acquiring an additional 400,265 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Wix.com by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock worth $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Wix.com by 4.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock worth $67,377,000 after acquiring an additional 12,531 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Cantor Fitzgerald boosted their target price on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Friday. Robert W. Baird raised their target price on Wix.com from $175.00 to $215.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company reduced their target price on shares of Wix.com from $194.00 to $169.00 and set an "underweight" rating for the company in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and an average price target of $243.74.
Read Our Latest Report on WIX
Wix.com Price Performance
Shares of NASDAQ:WIX traded down $0.24 on Friday, hitting $172.59. The company's stock had a trading volume of 952,081 shares, compared to its average volume of 591,081. The company has a market capitalization of $9.46 billion, a PE ratio of 73.44, a PEG ratio of 2.83 and a beta of 1.64. The company has a 50-day simple moving average of $216.76 and a 200 day simple moving average of $195.85. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.
Wix.com declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.
About Wix.com
(
Free Report)
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.
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