Voloridge Investment Management LLC Increases Stake in Wix.com Ltd. (NASDAQ:WIX)

Voloridge Investment Management LLC boosted its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,909 shares of the information services provider's stock after purchasing 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.

A number of other large investors have also bought and sold shares of the stock. Worldquant Millennium Advisors LLC grew its stake in Wix.com by 68.0% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider's stock worth $22,782,000 after purchasing an additional 42,969 shares during the period. Whale Rock Capital Management LLC grew its stake in Wix.com by 55.1% in 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 purchasing an additional 380,800 shares during the period. Vident Advisory LLC purchased a new stake in Wix.com in the fourth quarter worth $219,000. Sphera Management Technology Funds Ltd purchased a new stake in Wix.com in the fourth quarter worth $2,682,000. Finally, Two Sigma Advisers LP grew its stake in Wix.com by 106.0% in the fourth 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. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WIX has been the topic of several recent research reports. Piper Sandler upped their price target on Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Benchmark dropped their target price on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Monday. Jefferies Financial Group dropped their target price on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.95.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $180.22 on Tuesday. The company has a market cap of $10.11 billion, a P/E ratio of 76.69, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1 year low of $137.94 and a 1 year high of $247.11. The stock's fifty day moving average price is $166.38 and its 200-day moving average price is $197.06.

Wix.com announced that its board has approved 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 reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board 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.

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