ExodusPoint Capital Management LP Has $3.90 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

ExodusPoint Capital Management LP grew its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 987.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,195 shares of the information services provider's stock after buying an additional 16,522 shares during the quarter. ExodusPoint Capital Management LP's holdings in Wix.com were worth $3,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WIX. Avior Wealth Management LLC boosted its stake in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after buying an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com in the fourth quarter worth about $43,000. Global Retirement Partners LLC boosted its stake in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com during the 4th quarter valued at approximately $52,000. Finally, Blue Trust Inc. increased its position in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WIX shares. Barclays raised their target price on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Bank of America boosted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Piper Sandler increased their target price on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. Four investment 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. Based on data from MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and a consensus target price of $242.53.

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Wix.com Price Performance

Shares of Wix.com stock traded up $2.82 on Friday, hitting $158.50. 823,838 shares of the company's stock traded hands, compared to its average volume of 647,676. The company has a fifty day moving average of $185.82 and a two-hundred day moving average of $196.37. 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 $8.89 billion, a price-to-earnings ratio of 67.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

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 buy up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wix.com Profile

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.