Wix.com Ltd. (NASDAQ:WIX) Short Interest Update

Key Points

• Wix.com experienced a dramatic increase in short interest, growing by1,572.2% in July, totaling 2,540,000 shares, compared to just 151,900 shares at the end of June.
• Several institutional investors significantly increased their stakes in Wix.com during the second quarter, with Y Intercept Hong Kong Ltd's stake growing by 141.8%.
• Analysts have a predominantly bullish outlook on Wix.com, with eighteen buy ratings and an average price target of $228.95, despite recent reductions in target prices by several firms.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,540,000 shares, agrowthof1,572.2% from the June 30th total of 151,900 shares. Based on an average daily trading volume, of 870,900 shares, the short-interest ratio is presently 2.9 days. Approximately4.7% of the shares of the company are sold short. Approximately4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 870,900 shares, the short-interest ratio is presently 2.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WIX. Pettee Investors Inc. increased its stake in shares of Wix.com by 42.4% during the 2nd quarter. Pettee Investors Inc. now owns 6,345 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 1,890 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Wix.com by 13.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,986 shares of the information services provider's stock worth $2,850,000 after purchasing an additional 2,189 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Wix.com by 141.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 44,009 shares of the information services provider's stock worth $6,974,000 after purchasing an additional 25,808 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Wix.com by 32.2% during the second quarter. Envestnet Asset Management Inc. now owns 46,507 shares of the information services provider's stock worth $7,370,000 after buying an additional 11,330 shares in the last quarter. Finally, RedJay Asset Management Inc. increased its position in Wix.com by 68.2% during the second quarter. RedJay Asset Management Inc. now owns 37,000 shares of the information services provider's stock worth $5,863,000 after buying an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

WIX has been the subject of a number of research reports. UBS Group reduced their target price on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Bank of America cut their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and set a $250.00 price target on shares of Wix.com in a research note on Wednesday, May 21st. Oppenheimer cut their price target on Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group cut their price objective on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Wix.com has an average rating of "Buy" and an average price target of $228.95.

Wix.com Price Performance

NASDAQ WIX opened at $128.97 on Friday. Wix.com has a 1-year low of $128.54 and a 1-year high of $247.11. The company has a market capitalization of $7.24 billion, a P/E ratio of 51.38, a PEG ratio of 2.17 and a beta of 1.27. The business has a 50 day moving average price of $154.59 and a 200 day moving average price of $177.17.

About Wix.com

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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