RedJay Asset Management Inc. Invests $3.59 Million in Wix.com Ltd. (NASDAQ:WIX)

RedJay Asset Management Inc. bought a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,000 shares of the information services provider's stock, valued at approximately $3,594,000. Wix.com accounts for about 1.9% of RedJay Asset Management Inc.'s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors have also recently bought and sold shares of WIX. Global Retirement Partners LLC increased its stake in 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 acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com during the 4th quarter worth about $52,000. Jones Financial Companies Lllp increased its position in Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock worth $74,000 after purchasing an additional 291 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Wix.com during the 4th quarter worth approximately $114,000. Finally, Versant Capital Management Inc raised its holdings in Wix.com by 676.1% in the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock valued at $117,000 after buying an additional 622 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of several research reports. Wall Street Zen downgraded shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Morgan Stanley reduced their target price 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. Wells Fargo & Company upgraded Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $173.00 to $216.00 in a report on Monday, June 16th. Baird R W raised Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Finally, Citigroup decreased their target price on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $228.95.

Wix.com Trading Up 0.3%

WIX stock traded up $0.45 during mid-day trading on Monday, hitting $158.46. 868,711 shares of the company were exchanged, compared to its average volume of 688,020. The firm has a fifty day simple moving average of $161.69 and a 200 day simple moving average of $187.66. The company has a market capitalization of $8.89 billion, a PE ratio of 63.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.31. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11.

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.