Quantbot Technologies LP boosted its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 69.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,087 shares of the information services provider's stock after acquiring an additional 14,328 shares during the quarter. Quantbot Technologies LP owned 0.06% of Wix.com worth $7,528,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WIX. Entropy Technologies LP lifted its holdings in shares of Wix.com by 19.2% in the third quarter. Entropy Technologies LP now owns 4,959 shares of the information services provider's stock valued at $829,000 after purchasing an additional 800 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Wix.com by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,067 shares of the information services provider's stock valued at $16,728,000 after buying an additional 1,161 shares during the last quarter. MQS Management LLC bought a new stake in Wix.com in the 3rd quarter valued at approximately $289,000. Oppenheimer & Co. Inc. acquired a new position in Wix.com during the 3rd quarter worth approximately $461,000. Finally, Plato Investment Management Ltd bought a new position in shares of Wix.com during the 3rd quarter worth approximately $782,000. 81.52% of the stock is owned by institutional investors and hedge funds.
Wix.com Stock Performance
Shares of NASDAQ WIX traded down $0.24 during trading hours on Friday, reaching $172.59. 952,081 shares of the stock were exchanged, compared to its average volume of 591,081. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64. The stock's fifty day simple moving average is $216.76 and its 200 day simple moving average is $196.05. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11.
Wix.com announced that its Board of Directors has initiated a share buyback 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 reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several brokerages recently commented on WIX. Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $248.00 to $276.00 in a report on Monday, January 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Citigroup raised their price target on Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upped their price objective on Wix.com from $175.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.74.
Check Out Our Latest Analysis on WIX
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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