Two Sigma Investments LP lifted its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 93.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 345,389 shares of the information services provider's stock after purchasing an additional 167,143 shares during the quarter. Two Sigma Investments LP owned 0.63% of Wix.com worth $74,103,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Wix.com by 518.3% during the fourth 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 boosted its stake in Wix.com by 1.8% during the fourth quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock worth $305,734,000 after buying an additional 25,000 shares during the period. Senvest Management LLC boosted its stake in 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 buying an additional 304,712 shares during the period. Renaissance Technologies LLC boosted its stake in 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 buying an additional 162,400 shares during the period. Finally, Man Group plc boosted its stake in Wix.com by 1.5% during the fourth quarter. Man Group plc now owns 643,651 shares of the information services provider's stock worth $138,095,000 after buying an additional 9,706 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.
Wix.com Stock Down 2.4%
Shares of WIX stock traded down $3.73 on Friday, hitting $151.26. The stock had a trading volume of 1,340,082 shares, compared to its average volume of 651,249. The business has a 50 day moving average price of $165.42 and a 200 day moving average price of $196.70. The company has a market cap of $8.49 billion, a PE ratio of 64.37, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a one year low of $137.94 and a one year high of $247.11.
Wix.com announced that its board has authorized a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Wix.com in a research note on Thursday. Citigroup dropped their price objective on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Cfra Research lowered shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Scotiabank began coverage on shares of Wix.com in a research note on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price for the company. Four equities research 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 company's stock. According to data from MarketBeat.com, Wix.com has a consensus rating of "Moderate Buy" and a consensus price target of $226.16.
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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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