Driehaus Capital Management LLC Has $53.17 Million Position in Wix.com Ltd. (NASDAQ:WIX)

Driehaus Capital Management LLC lifted its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 43.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,812 shares of the information services provider's stock after buying an additional 75,497 shares during the quarter. Driehaus Capital Management LLC owned about 0.45% of Wix.com worth $53,168,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in Wix.com in the 4th quarter valued at $43,000. Avior Wealth Management LLC raised its position in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com during the 4th quarter worth about $52,000. Finally, Blue Trust Inc. grew its stake in 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 last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Bank of America lifted their price target on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group decreased their price objective on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and set a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald upped their price target on shares of Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Five investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.74.

Wix.com Price Performance

NASDAQ:WIX traded down $0.45 during trading hours on Friday, hitting $171.82. The company's stock had a trading volume of 722,704 shares, compared to its average volume of 659,559. Wix.com Ltd. has a twelve month low of $125.44 and a twelve month high of $247.11. The stock has a fifty day simple moving average of $166.23 and a 200-day simple moving average of $196.11. The company has a market capitalization of $9.64 billion, a P/E ratio of 73.11, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com announced that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

About Wix.com

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.