Mariner LLC raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,737 shares of the information services provider's stock after purchasing an additional 3,022 shares during the period. Mariner LLC's holdings in Wix.com were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Wix.com by 518.3% in the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC raised its holdings in Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after buying an additional 400,265 shares during the last quarter. Norges Bank bought a new position in Wix.com during the fourth quarter worth $63,829,000. Alliancebernstein L.P. increased its stake in Wix.com by 1,382.1% in the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider's stock valued at $55,708,000 after purchasing an additional 242,130 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after buying an additional 162,400 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 research analysts have issued reports on the company. Jefferies Financial Group reduced their price objective on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Citigroup reduced their target price on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday. Scotiabank began coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective on the stock. JMP Securities reissued a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Finally, Barclays boosted their price objective 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. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $236.68.
Read Our Latest Research Report on Wix.com
Wix.com Stock Performance
Shares of NASDAQ WIX traded up $1.20 during trading on Friday, hitting $166.43. The company had a trading volume of 338,157 shares, compared to its average volume of 656,642. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a market capitalization of $9.34 billion, a P/E ratio of 70.82, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The stock has a 50 day simple moving average of $172.62 and a 200 day simple moving average of $196.18.
Wix.com announced that its board has approved a share 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 repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
About Wix.com
(
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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