APG Asset Management N.V. cut its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 70.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,589 shares of the information services provider's stock after selling 6,082 shares during the period. APG Asset Management N.V.'s holdings in Wix.com were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP boosted its position in Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after buying an additional 1,266,202 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Wix.com by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after purchasing an additional 162,400 shares during the last quarter. Geode Capital Management LLC lifted its position in Wix.com by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock valued at $102,926,000 after purchasing an additional 19,633 shares during the period. SG Americas Securities LLC boosted its stake in shares of Wix.com by 558.5% in 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 purchasing an additional 400,265 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Wix.com by 4.2% during 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 buying an additional 12,531 shares during the period. 81.52% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Morgan Stanley reduced their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday. Bank of America increased their price target on shares of Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $245.00 price objective on shares of Wix.com in a report on Thursday, February 20th. Finally, StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.89.
Get Our Latest Stock Report on WIX
Wix.com Trading Down 0.8 %
Shares of Wix.com stock traded down $1.29 during trading on Friday, hitting $159.76. 665,802 shares of the stock were exchanged, compared to its average volume of 648,840. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 67.98, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The company has a fifty day moving average price of $180.79 and a 200-day moving average price of $195.93.
Wix.com declared that its board has approved a share buyback 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 purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Wix.com Profile
(
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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