Analyst IMS Investment Management Services Ltd. lessened its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 about 2.2% of Analyst IMS Investment Management Services Ltd.'s investment portfolio, making the stock its 5th biggest 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 reporting period.
Several other hedge funds also recently bought and sold shares of WIX. Senvest Management LLC raised its holdings in 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 worth $186,910,000 after purchasing an additional 50,482 shares during the period. Whale Rock Capital Management LLC raised its holdings in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider's stock worth $115,475,000 after purchasing an additional 165,810 shares during the period. SG Americas Securities LLC raised its holdings in Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock worth $101,253,000 after purchasing an additional 400,265 shares during the period. Geode Capital Management LLC raised its holdings in Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock worth $76,848,000 after purchasing an additional 14,340 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Wix.com by 4.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock worth $67,377,000 after purchasing an additional 12,531 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on WIX shares. Evercore ISI upgraded shares of Wix.com to a "strong-buy" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Wix.com from $175.00 to $215.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, Needham & Company LLC restated a "buy" rating and set a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.74.
Get Our Latest Research Report on WIX
Wix.com Price Performance
Shares of WIX opened at $172.83 on Friday. The firm has a 50-day moving average of $217.76 and a 200-day moving average of $195.81. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company has a market cap of $9.47 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.
Wix.com announced that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
Wix.com Company Profile
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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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