Fred Alger Management LLC Has $8.52 Million Position in Wix.com Ltd. (NASDAQ:WIX)

Fred Alger Management LLC increased its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 311.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,979 shares of the information services provider's stock after buying an additional 38,597 shares during the quarter. Fred Alger Management LLC owned approximately 0.09% of Wix.com worth $8,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dorsal Capital Management LP raised its stake in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider's stock valued at $206,791,000 after buying an additional 250,000 shares during the period. Clearbridge Investments LLC lifted its holdings in Wix.com by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider's stock valued at $190,482,000 after purchasing an additional 33,338 shares during the last quarter. Senvest Management LLC boosted its position in Wix.com by 4.7% during 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. Renaissance Technologies LLC increased its holdings in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider's stock valued at $124,973,000 after purchasing an additional 171,500 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider's stock worth $44,055,000 after buying an additional 49,500 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Up 2.2 %

Wix.com stock traded up $4.83 during midday trading on Friday, reaching $223.74. The company's stock had a trading volume of 283,476 shares, compared to its average volume of 691,285. The stock has a market cap of $12.27 billion, a PE ratio of 139.84, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47. Wix.com Ltd. has a 52 week low of $100.13 and a 52 week high of $224.33. The business has a 50-day moving average price of $176.92 and a 200-day moving average price of $166.46.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Wix.com to a "strong-buy" rating in a research report on Thursday, November 21st. StockNews.com raised Wix.com from a "hold" rating to a "buy" rating in a report on Saturday, November 23rd. Piper Sandler lifted their target price on Wix.com from $200.00 to $249.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Bank of America upped their price target on shares of Wix.com from $190.00 to $228.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald boosted their price objective on shares of Wix.com from $200.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.71.

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.