Hel Ved Capital Management Ltd boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 119.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,270 shares of the information services provider's stock after acquiring an additional 19,200 shares during the quarter. Wix.com accounts for approximately 2.2% of Hel Ved Capital Management Ltd's investment portfolio, making the stock its 11th biggest holding. Hel Ved Capital Management Ltd owned approximately 0.06% of Wix.com worth $7,567,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after purchasing an additional 1,266,202 shares in the last quarter. SG Americas Securities LLC increased its holdings in Wix.com by 558.5% in the fourth 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 in the last quarter. Norges Bank acquired a new stake in Wix.com in the fourth quarter valued at approximately $63,829,000. Alliancebernstein L.P. grew its holdings in shares of Wix.com by 1,382.1% during the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider's stock valued at $55,708,000 after buying an additional 242,130 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.
Analyst Ratings Changes
WIX has been the subject of a number of research analyst reports. Wells Fargo & Company raised Wix.com from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $169.00 to $176.00 in a research report on Tuesday. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. UBS Group set a $250.00 target price on Wix.com in a research note on Wednesday, March 5th. Needham & Company LLC restated a "buy" rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Finally, Cantor Fitzgerald upped their target price on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of "Moderate Buy" and an average price target of $242.53.
Read Our Latest Research Report on Wix.com
Wix.com Price Performance
NASDAQ WIX traded down $8.90 during midday trading on Thursday, hitting $156.07. 385,327 shares of the company traded hands, compared to its average volume of 891,391. The company's 50-day simple moving average is $188.70 and its 200-day simple moving average is $196.50. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The company has a market cap of $8.76 billion, a PE ratio of 66.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.
Wix.com announced that its board has approved a share repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board 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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