Voloridge Investment Management LLC Buys 51,581 Shares of Wix.com Ltd. (NASDAQ:WIX)

Voloridge Investment Management LLC raised its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,909 shares of the information services provider's stock after buying an additional 51,581 shares during the period. Voloridge Investment Management LLC owned about 0.69% of Wix.com worth $81,724,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC boosted its position in Wix.com by 68.0% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider's stock valued at $22,782,000 after buying an additional 42,969 shares during the period. Whale Rock Capital Management LLC boosted its position in Wix.com by 55.1% during the 4th 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 buying an additional 380,800 shares during the period. Vident Advisory LLC purchased a new stake in Wix.com during the 4th quarter valued at $219,000. Sphera Management Technology Funds Ltd purchased a new stake in Wix.com during the 4th quarter valued at $2,682,000. Finally, Two Sigma Advisers LP lifted its position in shares of Wix.com by 106.0% in the 4th quarter. Two Sigma Advisers LP now owns 220,800 shares of the information services provider's stock worth $47,373,000 after purchasing an additional 113,600 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WIX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of Wix.com in a research report on Thursday. Royal Bank of Canada dropped 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 report on Thursday. Barclays raised their target price on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $250.00 target price on shares of Wix.com in a research report on Thursday. Finally, Citigroup dropped their target price 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. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of "Moderate Buy" and a consensus price target of $226.16.

Wix.com Trading Down 2.4%

NASDAQ:WIX traded down $3.73 on Friday, reaching $151.26. 1,340,082 shares of the stock traded hands, compared to its average volume of 651,249. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 64.37, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The company's fifty day simple moving average is $165.42 and its 200 day simple moving average is $196.70.

Wix.com announced that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are 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.