Quantedge Capital Pte Ltd purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,300 shares of the information services provider's stock, valued at approximately $4,570,000. Wix.com accounts for about 1.7% of Quantedge Capital Pte Ltd's portfolio, making the stock its 16th biggest holding.
Other large investors have also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its stake in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com during the fourth quarter worth about $43,000. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% during 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 during the period. SBI Securities Co. Ltd. purchased a new position in Wix.com during the fourth quarter worth about $52,000. Finally, Blue Trust Inc. lifted its holdings in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Cfra Research downgraded Wix.com from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 15th. Wells Fargo & Company raised Wix.com from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $169.00 to $176.00 in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.95.
Check Out Our Latest Stock Report on WIX
Wix.com Stock Performance
Shares of NASDAQ WIX traded down $2.11 during trading on Monday, reaching $180.65. The company had a trading volume of 236,429 shares, compared to its average volume of 655,416. The stock has a market cap of $10.14 billion, a PE ratio of 76.87, a PEG ratio of 2.83 and a beta of 1.56. The business's 50 day moving average price is $166.28 and its 200-day moving average price is $196.95. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11.
Wix.com announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.
About Wix.com
(
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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