Whale Rock Capital Management LLC raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 55.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,071,565 shares of the information services provider's stock after purchasing an additional 380,800 shares during the period. Wix.com accounts for approximately 2.7% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 13th biggest position. Whale Rock Capital Management LLC owned approximately 1.95% of Wix.com worth $229,904,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Avior Wealth Management LLC raised its position in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com in the 4th quarter worth about $43,000. Global Retirement Partners LLC raised its position 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 worth $47,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wix.com in the 4th quarter worth about $52,000. Finally, Blue Trust Inc. raised its position in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. 81.52% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on WIX shares. Wall Street Zen lowered Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Bank of America lowered their price objective on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada decreased their target price on Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Citigroup decreased their target price on 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 research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $226.16.
Read Our Latest Report on Wix.com
Wix.com Price Performance
WIX traded down $3.73 on Friday, hitting $151.26. The company had a trading volume of 1,340,082 shares, 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 stock has a fifty day simple moving average of $165.42 and a 200-day simple moving average of $196.70. The firm has a market capitalization of $8.49 billion, a P/E ratio of 64.37, a P/E/G ratio of 2.83 and a beta of 1.56.
Wix.com declared that its Board of Directors has authorized a share buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
About Wix.com
(
Free Report)
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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