Tairen Capital Ltd Invests $2.40 Million in Wix.com Ltd. (NASDAQ:WIX)

Tairen Capital Ltd purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,200 shares of the information services provider's stock, valued at approximately $2,403,000.

A number of other large investors also recently added to or reduced their stakes in WIX. Newbridge Financial Services Group Inc. purchased a new position in Wix.com in the fourth quarter valued at $43,000. Avior Wealth Management LLC boosted its stake in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after buying an additional 89 shares during the period. Global Retirement Partners LLC boosted its stake 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 buying an additional 58 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Wix.com during the fourth quarter worth about $52,000. Finally, Blue Trust Inc. boosted its stake in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WIX shares. Needham & Company LLC restated a "buy" rating and issued a $250.00 price objective on shares of Wix.com in a research report on Wednesday. Citigroup reduced their price objective on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Robert W. Baird upgraded shares of Wix.com from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $215.00 to $190.00 in a research report on Friday. Benchmark reduced their price objective on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of "Moderate Buy" and an average price target of $226.16.

Wix.com Stock Performance

Wix.com stock traded down $3.73 during midday trading on Friday, reaching $151.26. 1,340,082 shares of the company were exchanged, compared to its average volume of 651,249. The firm's 50-day simple moving average is $165.42 and its 200-day simple moving average is $196.70. Wix.com Ltd. has a 1 year low of $137.94 and a 1 year high of $247.11. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows 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 leadership believes its stock is undervalued.

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.