Elwood Capital Partners LP acquired a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,987 shares of the information services provider's stock, valued at approximately $3,215,000. Wix.com makes up about 3.2% of Elwood Capital Partners LP's holdings, making the stock its 9th biggest holding.
A number of other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in Wix.com by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider's stock worth $6,078,000 after acquiring an additional 613 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Wix.com by 60.8% during the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider's stock valued at $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Wix.com by 23.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 27,415 shares of the information services provider's stock valued at $4,583,000 after buying an additional 5,200 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Wix.com during the third quarter valued at approximately $890,000. Finally, Investment Management Corp of Ontario acquired a new position in shares of Wix.com during the 3rd quarter valued at $2,147,000. Institutional investors own 81.52% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Benchmark upped their price target on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Piper Sandler boosted their price target on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. Barclays increased their price objective on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, UBS Group set a $250.00 target price on Wix.com in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $243.74.
Get Our Latest Stock Report on WIX
Wix.com Price Performance
Shares of WIX stock traded up $1.87 during trading on Wednesday, reaching $165.87. The company had a trading volume of 549,308 shares, compared to its average volume of 622,893. The firm's 50 day simple moving average is $200.57 and its two-hundred day simple moving average is $197.03. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company has a market capitalization of $9.31 billion, a PE ratio of 70.58, a PEG ratio of 2.83 and a beta of 1.65.
Wix.com declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors 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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