Ensign Peak Advisors Inc purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,250 shares of the information services provider's stock, valued at approximately $1,555,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Wix.com by 518.3% during 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 acquiring an additional 1,266,202 shares during the period. Dorsal Capital Management LP increased its stake in Wix.com by 1.8% during the fourth quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock valued at $305,734,000 after acquiring an additional 25,000 shares during the period. Senvest Management LLC boosted its holdings in Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after purchasing an additional 304,712 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock valued at $201,151,000 after purchasing an additional 162,400 shares in the last quarter. Finally, Dorsey Asset Management LLC boosted its holdings in Wix.com by 4.5% during the fourth quarter. Dorsey Asset Management LLC now owns 578,741 shares of the information services provider's stock valued at $124,169,000 after purchasing an additional 24,847 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.
Wix.com Stock Performance
NASDAQ:WIX opened at $182.91 on Friday. The stock's fifty day moving average price is $166.14 and its two-hundred day moving average price is $196.45. Wix.com Ltd. has a 52-week low of $134.74 and a 52-week high of $247.11. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 77.83, a P/E/G ratio of 2.83 and a beta of 1.56.
Wix.com declared that its board has initiated a stock repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Scotiabank assumed coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective on the stock. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Morgan Stanley decreased their price objective on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $237.74.
Get Our Latest Analysis on Wix.com
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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