21,300 Shares in Wix.com Ltd. (NASDAQ:WIX) Acquired by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,300 shares of the information services provider's stock, valued at approximately $4,570,000. Wix.com makes up 1.7% of Quantedge Capital Pte Ltd's portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in Wix.com by 8.9% during the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock valued at $7,673,000 after purchasing an additional 3,864 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after buying an additional 63 shares in the last quarter. Accurate Wealth Management LLC raised its stake in shares of Wix.com by 27.3% in the 4th quarter. Accurate Wealth Management LLC now owns 7,684 shares of the information services provider's stock valued at $1,680,000 after buying an additional 1,649 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Wix.com by 94.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider's stock valued at $5,648,000 after purchasing an additional 12,807 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Wix.com by 10.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider's stock valued at $1,166,000 after acquiring an additional 504 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Trading Up 2.9%

WIX opened at $184.89 on Wednesday. The firm's 50-day moving average price is $165.87 and its 200 day moving average price is $196.45. The firm has a market capitalization of $10.37 billion, a PE ratio of 78.68, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a twelve month low of $127.49 and a twelve month high of $247.11.

Wix.com declared that its Board of Directors has approved a share buyback 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 purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Morgan Stanley lowered their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Scotiabank started 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. Finally, Cantor Fitzgerald raised their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Five equities research 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's stock. Based on data from MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and a consensus target price of $237.74.

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.

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