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

Castleark Management LLC cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,130 shares of the information services provider's stock after selling 10,170 shares during the period. Castleark Management LLC owned 0.06% of Wix.com worth $7,537,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position 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 worth $324,081,000 after buying an additional 1,266,202 shares during the period. Dorsal Capital Management LP increased its position 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 valued at $305,734,000 after buying an additional 25,000 shares in the last quarter. Senvest Management LLC raised its position in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock worth $305,260,000 after purchasing an additional 304,712 shares during the period. Whale Rock Capital Management LLC raised its holdings in 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 worth $229,904,000 after buying an additional 380,800 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Wix.com by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock valued at $201,151,000 after purchasing an additional 162,400 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Performance

Shares of WIX traded down $3.73 during trading hours on Monday, hitting $151.26. 1,340,082 shares of the company were exchanged, compared to its average volume of 651,249. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11. The firm's 50 day moving average is $165.42 and its 200-day moving average is $196.87. The company has a market cap of $8.49 billion, a PE ratio of 64.37, a PEG ratio of 2.83 and a beta of 1.56.

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

Wall Street Analyst Weigh In

WIX has been the topic of several research analyst reports. JMP Securities restated a "market outperform" rating and issued a $250.00 price objective on shares of Wix.com in a research note on Thursday. Piper Sandler reduced their price target on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday. Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup reduced their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of Wix.com in a report on Thursday. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $226.16.

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.