Harvest Fund Management Co. Ltd Has $1.04 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Harvest Fund Management Co. Ltd raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,842 shares of the information services provider's stock after purchasing an additional 2,188 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Wix.com were worth $1,038,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the fourth quarter worth $43,000. Avior Wealth Management LLC boosted its position in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. Global Retirement Partners LLC raised its position in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wix.com during the fourth quarter valued at approximately $52,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock valued at $41,000 after purchasing an additional 130 shares during the period. Institutional investors own 81.52% of the company's stock.

Wix.com Price Performance

Shares of NASDAQ WIX traded up $0.42 during mid-day trading on Monday, hitting $172.75. The company's stock had a trading volume of 713,723 shares, compared to its average volume of 599,043. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 73.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The company's fifty day simple moving average is $211.60 and its 200-day simple moving average is $196.60. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11.

Remove Ads

Wix.com announced that its Board of Directors has approved a share 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 repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

WIX has been the topic of several recent analyst reports. UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. Scotiabank initiated coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Wix.com from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their target price on shares of Wix.com from $194.00 to $169.00 and set an "underweight" rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and an average price target of $243.74.

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.