Maytus Capital Management LLC bought a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the information services provider's stock, valued at approximately $4,291,000.
Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com during the fourth quarter valued at about $43,000. Avior Wealth Management LLC boosted its stake in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Wix.com by 36.0% during 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 during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the 4th quarter worth about $52,000. Finally, Blue Trust Inc. increased its stake in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on WIX shares. Jefferies Financial Group lowered their target price on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. Morgan Stanley reduced their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Oppenheimer reduced their price objective on Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Scotiabank assumed coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price for the company. Five investment 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. According to data from MarketBeat, Wix.com presently has a consensus rating of "Moderate Buy" and an average target price of $237.74.
Read Our Latest Research Report on WIX
Wix.com Stock Performance
WIX opened at $179.71 on Tuesday. Wix.com Ltd. has a one year low of $125.44 and a one year high of $247.11. The company has a market capitalization of $10.08 billion, a PE ratio of 76.47, a P/E/G ratio of 2.83 and a beta of 1.56. The stock's fifty day moving average is $165.87 and its 200-day moving average is $196.45.
Wix.com announced that its board has initiated a stock buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management 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.
Further Reading
Want to see what other hedge funds are holding WIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wix.com Ltd. (NASDAQ:WIX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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