Renaissance Technologies LLC Has $201.15 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Renaissance Technologies LLC increased its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 937,549 shares of the information services provider's stock after buying an additional 162,400 shares during the quarter. Renaissance Technologies LLC owned approximately 1.71% of Wix.com worth $201,151,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in 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 acquiring an additional 1,266,202 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Wix.com by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock valued at $102,926,000 after purchasing an additional 19,633 shares during the period. SG Americas Securities LLC lifted its stake 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 purchasing an additional 400,265 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Wix.com by 4.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock worth $67,377,000 after purchasing an additional 12,531 shares during the period. Finally, Norges Bank acquired a new position in Wix.com during the fourth quarter worth approximately $63,829,000. Institutional investors and hedge funds own 81.52% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research firms have recently issued reports on WIX. Benchmark raised their price objective on Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Scotiabank assumed coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price target for the company. Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. UBS Group set a $250.00 target price on shares of Wix.com in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $242.53.

Wix.com Trading Up 1.8 %

WIX stock traded up $2.82 during mid-day trading on Friday, hitting $158.50. The stock had a trading volume of 823,838 shares, compared to its average volume of 647,842. The firm has a fifty day simple moving average of $185.82 and a 200 day simple moving average of $196.54. 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 $8.89 billion, a P/E ratio of 67.45, a P/E/G ratio of 2.83 and a beta of 1.65.

Wix.com announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.