Point72 Hong Kong Ltd purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,155 shares of the information services provider's stock, valued at approximately $2,179,000.
Several other hedge funds have also recently modified their holdings of WIX. Wellington Management Group LLP boosted its holdings in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock valued at $324,081,000 after acquiring an additional 1,266,202 shares during the last quarter. Dorsal Capital Management LP increased its stake in shares of Wix.com by 1.8% in the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider's stock worth $305,734,000 after purchasing an additional 25,000 shares in the last quarter. Senvest Management LLC increased its stake in shares of Wix.com by 27.3% in the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock worth $305,260,000 after purchasing an additional 304,712 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Wix.com by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock worth $201,151,000 after purchasing an additional 162,400 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Wix.com by 1.5% during the 4th quarter. Man Group plc now owns 643,651 shares of the information services provider's stock valued at $138,095,000 after acquiring an additional 9,706 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.
Wix.com Trading Down 1.4%
Shares of NASDAQ WIX traded down $2.53 during midday trading on Monday, hitting $180.22. The company's stock had a trading volume of 456,922 shares, compared to its average volume of 656,268. The business's 50 day moving average is $166.38 and its two-hundred day moving average is $197.06. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11. The firm has a market cap of $10.11 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.
Wix.com declared that its Board of Directors has approved a share buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Citigroup cut their price target on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Bank of America raised their price objective on Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. Royal Bank of Canada restated an "outperform" rating and set a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. Finally, Jefferies Financial Group cut their target price on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $236.95.
View Our Latest Research Report on WIX
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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