Pictet Asset Management Holding SA Purchases 21,583 Shares of Wix.com Ltd. (NASDAQ:WIX)

Pictet Asset Management Holding SA raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 71.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 51,869 shares of the information services provider's stock after buying an additional 21,583 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of Wix.com worth $11,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $6,078,000 after acquiring an additional 613 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Wix.com by 60.8% in 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 buying an additional 11,497 shares during the last quarter. Investment Management Corp of Ontario purchased a new position in shares of Wix.com in the third quarter worth about $2,147,000. Polar Asset Management Partners Inc. lifted its stake in shares of Wix.com by 192.9% in the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider's stock worth $16,466,000 after buying an additional 64,869 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in Wix.com by 5.2% during the third quarter. Quantinno Capital Management LP now owns 10,385 shares of the information services provider's stock worth $1,736,000 after acquiring an additional 509 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Stock Performance

Shares of NASDAQ WIX traded down $2.65 during trading hours on Monday, reaching $147.36. 1,183,612 shares of the stock were exchanged, compared to its average volume of 633,756. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 62.71, a P/E/G ratio of 2.83 and a beta of 1.65. The stock's fifty day simple moving average is $195.52 and its 200 day simple moving average is $197.13.

Wix.com declared that its Board of Directors has initiated 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 purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Citigroup increased their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Cantor Fitzgerald increased their price objective on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Bank of America raised their price objective on Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Scotiabank assumed coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price on the stock. One equities 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $242.16.

About Wix.com

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.