Wix.com Ltd. (NASDAQ:WIX) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1,209.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,713 shares of the information services provider's stock after buying an additional 318,387 shares during the quarter. Assenagon Asset Management S.A. owned about 0.61% of Wix.com worth $56,319,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its stake in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after buying an additional 55 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. raised its stake in Wix.com by 30.3% during the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock worth $55,000 after acquiring an additional 60 shares in the last quarter. Vestcor Inc grew its position in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after purchasing an additional 63 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in Wix.com by 5.1% in the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after buying an additional 67 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Robert W. Baird upgraded Wix.com from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $215.00 to $190.00 in a report on Friday, May 23rd. JMP Securities restated a "market outperform" rating and issued a $250.00 price target on shares of Wix.com in a report on Thursday, May 22nd. Scotiabank assumed coverage on Wix.com in a research note on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price for the company. Finally, Cfra Research cut Wix.com from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $226.68.

Wix.com Stock Performance

Shares of NASDAQ WIX traded down $5.65 during midday trading on Friday, hitting $149.10. 2,181,955 shares of the stock traded hands, compared to its average volume of 664,167. The firm has a 50-day moving average of $161.86 and a two-hundred day moving average of $191.97. The firm has a market capitalization of $8.37 billion, a P/E ratio of 63.45, a PEG ratio of 2.83 and a beta of 1.31. Wix.com Ltd. has a one year low of $137.94 and a one year high of $247.11.

Wix.com announced that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wix.com 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.