Hsbc Holdings PLC raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,505 shares of the information services provider's stock after purchasing an additional 8,675 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Wix.com worth $6,538,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. J. Safra Sarasin Holding AG raised its stake in shares of Wix.com by 1.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,635 shares of the information services provider's stock valued at $3,354,000 after purchasing an additional 223 shares during the period. Stifel Financial Corp bought a new stake in shares of Wix.com during the fourth quarter valued at about $2,471,000. Tower Research Capital LLC TRC lifted its holdings in shares of Wix.com by 44.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock worth $135,000 after buying an additional 193 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Wix.com by 35.6% in the fourth quarter. MetLife Investment Management LLC now owns 6,100 shares of the information services provider's stock valued at $1,309,000 after acquiring an additional 1,600 shares during the period. Finally, Senvest Management LLC grew 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 valued at $305,260,000 after acquiring an additional 304,712 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.
Analyst Upgrades and Downgrades
WIX has been the topic of several recent analyst reports. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Oppenheimer dropped their price objective on Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their target price on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Scotiabank assumed coverage on Wix.com in a research report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price target for the company. Finally, Bank of America upped their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.74.
Get Our Latest Report on WIX
Wix.com Stock Down 0.7 %
Shares of Wix.com stock traded down $1.10 on Friday, hitting $166.83. The stock had a trading volume of 801,273 shares, compared to its average volume of 658,804. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 70.99, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a one year low of $118.61 and a one year high of $247.11. The stock's 50-day simple moving average is $169.00 and its two-hundred day simple moving average is $196.33.
Wix.com declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors 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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