Wix.com Ltd. (NASDAQ:WIX) is Dorsey Asset Management LLC's Largest Position

Dorsey Asset Management LLC raised its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,741 shares of the information services provider's stock after acquiring an additional 24,847 shares during the quarter. Wix.com makes up 12.8% of Dorsey Asset Management LLC's portfolio, making the stock its largest holding. Dorsey Asset Management LLC owned 1.06% of Wix.com worth $124,169,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. lifted its position in Wix.com by 8.9% during the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock valued at $7,673,000 after purchasing an additional 3,864 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock valued at $116,000 after buying an additional 491 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Wix.com during the 4th quarter valued at approximately $1,042,000. Fulton Bank N.A. purchased a new stake in Wix.com in the 4th quarter worth approximately $211,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after acquiring an additional 63 shares during the period. Institutional investors own 81.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Oppenheimer dropped their target price on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, 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. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $237.74.

Wix.com Stock Down 0.3 %

WIX traded down $0.45 on Friday, hitting $171.82. The company had a trading volume of 722,704 shares, compared to its average volume of 659,559. The business's fifty day simple moving average is $166.23 and its 200 day simple moving average is $196.11. Wix.com Ltd. has a 12-month low of $125.44 and a 12-month high of $247.11. The company has a market cap of $9.64 billion, a PE ratio of 73.11, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has authorized a stock buyback plan 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 reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Wix.com Profile

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.