Wix.com Ltd. (NASDAQ:WIX) Shares Purchased by Senvest Management LLC

Senvest Management LLC boosted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 27.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,422,793 shares of the information services provider's stock after acquiring an additional 304,712 shares during the quarter. Wix.com comprises 9.4% of Senvest Management LLC's holdings, making the stock its 2nd largest holding. Senvest Management LLC owned approximately 2.60% of Wix.com worth $305,260,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WIX. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 1,266,202 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after acquiring an additional 162,400 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 19,633 shares in the last quarter. SG Americas Securities LLC grew its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock worth $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Price Performance

Shares of WIX stock traded down $1.29 during trading hours on Friday, reaching $159.76. 665,802 shares of the company's stock were exchanged, compared to its average volume of 650,497. The company's 50 day moving average is $179.43 and its two-hundred day moving average is $195.94. The company has a market cap of $8.96 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.

Wix.com declared that its board has authorized a share buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on WIX shares. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Raymond James raised shares of Wix.com from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. JMP Securities reiterated a "market outperform" rating and set a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. Needham & Company LLC restated a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a research note on Wednesday, February 19th. Finally, Citigroup lifted their target price on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Five investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $238.89.

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.