Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 314,039 shares of the information services provider's stock after acquiring an additional 12,531 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.57% of Wix.com worth $67,377,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in WIX. BNP Paribas Financial Markets increased its holdings in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider's stock valued at $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Wix.com during the fourth quarter worth $256,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Wix.com in the third quarter valued at $461,000. Loomis Sayles & Co. L P increased its stake in shares of Wix.com by 23.9% in the third quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider's stock valued at $31,552,000 after buying an additional 36,459 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider's stock valued at $1,488,000 after buying an additional 6,919 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on WIX shares. Robert W. Baird raised their price objective on shares of Wix.com from $175.00 to $215.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Needham & Company LLC reissued a "buy" rating and issued a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. Piper Sandler boosted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Evercore ISI raised Wix.com to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Scotiabank began coverage on Wix.com in a research report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $243.74.
View Our Latest Stock Analysis on WIX
Wix.com Trading Down 1.2 %
Shares of NASDAQ WIX traded down $2.17 during mid-day trading on Thursday, reaching $172.83. 582,097 shares of the company's stock were exchanged, compared to its average volume of 588,847. The business has a fifty day simple moving average of $217.76 and a 200 day simple moving average of $195.81. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 73.54, a PEG ratio of 2.83 and a beta of 1.64.
Wix.com declared that its board has authorized a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Wix.com Profile
(
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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