Bank of New York Mellon Corp lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,622 shares of the information services provider's stock after purchasing an additional 11,048 shares during the quarter. Bank of New York Mellon Corp owned 0.23% of Wix.com worth $26,738,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Senvest Management LLC increased its position in Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider's stock valued at $186,910,000 after acquiring an additional 50,482 shares during the period. Whale Rock Capital Management LLC increased 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 valued at $115,475,000 after purchasing an additional 165,810 shares during the period. SG Americas Securities LLC raised its position 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 worth $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Geode Capital Management LLC lifted 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 buying an additional 14,340 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider's stock valued at $44,055,000 after buying an additional 49,500 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on WIX shares. JPMorgan Chase & Co. cut their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Citigroup lifted their target price on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Finally, Jefferies Financial Group raised their price target on shares of Wix.com from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and a consensus target price of $243.74.
Read Our Latest Report on WIX
Wix.com Price Performance
Shares of WIX stock traded down $0.87 on Wednesday, hitting $175.00. The stock had a trading volume of 998,202 shares, compared to its average volume of 591,225. The business has a 50 day moving average of $219.43 and a 200 day moving average of $196.11. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 74.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11.
Wix.com declared that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are 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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