Trexquant Investment LP Lowers Position in Wix.com Ltd. (NASDAQ:WIX)

Trexquant Investment LP lessened its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,817 shares of the information services provider's stock after selling 13,723 shares during the quarter. Trexquant Investment LP owned approximately 0.19% of Wix.com worth $21,845,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Wix.com by 518.3% in the 4th 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 period. Whale Rock Capital Management LLC grew its stake 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 worth $115,475,000 after purchasing an additional 165,810 shares during the last quarter. Geode Capital Management LLC increased its holdings in Wix.com by 4.3% in the fourth 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 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 valued at $101,253,000 after purchasing an additional 400,265 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Wix.com by 4.2% during the 4th 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 last quarter. Institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on WIX. StockNews.com upgraded Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday. UBS Group set a $250.00 target price on Wix.com in a report on Wednesday, March 5th. Piper Sandler raised their price target on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, Needham & Company LLC restated a "buy" rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.74.

Wix.com Trading Down 3.8 %

Shares of WIX traded down $5.93 during trading hours on Friday, reaching $150.01. The stock had a trading volume of 1,297,473 shares, compared to its average volume of 631,339. The firm has a 50-day simple moving average of $197.26 and a 200 day simple moving average of $196.96. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 63.83, a P/E/G ratio of 2.83 and a beta of 1.65.

Wix.com declared that its Board of Directors has initiated a share repurchase plan 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wix.com Company 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.