Castleark Management LLC Sells 10,170 Shares of Wix.com Ltd. (NASDAQ:WIX)

Castleark Management LLC reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,130 shares of the information services provider's stock after selling 10,170 shares during the quarter. Castleark Management LLC owned about 0.06% of Wix.com worth $7,537,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WIX. Wellington Management Group LLP raised its holdings in Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after buying an additional 1,266,202 shares during the last quarter. Dorsal Capital Management LP grew its holdings in Wix.com by 1.8% in the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock worth $305,734,000 after acquiring an additional 25,000 shares during the last quarter. Senvest Management LLC increased its position in shares of Wix.com by 27.3% in 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 acquiring an additional 304,712 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of Wix.com by 55.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider's stock valued at $229,904,000 after acquiring an additional 380,800 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after purchasing an additional 162,400 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler upped their target price on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Oppenheimer reduced their price target on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. StockNews.com raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Finally, Scotiabank started coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price on the stock. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.95.

Wix.com Trading Up 0.8%

Shares of WIX stock opened at $181.74 on Wednesday. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The stock has a market cap of $10.20 billion, a P/E ratio of 77.34, a P/E/G ratio of 2.83 and a beta of 1.56. The company has a 50 day simple moving average of $166.56 and a two-hundred day simple moving average of $196.96.

Wix.com announced that its board has approved a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors 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.

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