Wix.com Ltd. (NASDAQ:WIX) Holdings Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in Wix.com Ltd. (NASDAQ:WIX) by 82.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,842 shares of the information services provider’s stock after buying an additional 2,188 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Wix.com were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Senvest Management LLC boosted its position in Wix.com by 4.7% during the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after purchasing an additional 50,482 shares during the period. Whale Rock Capital Management LLC lifted its stake in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Geode Capital Management LLC grew its position in shares of Wix.com by 3.2% during the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock worth $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Wix.com by 4.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider’s stock worth $67,377,000 after acquiring an additional 12,531 shares during the period. 81.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on WIX. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 14th. Robert W. Baird increased their price target on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $172.41 on Thursday. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 73.37, a PEG ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The company has a 50 day moving average price of $213.63 and a 200 day moving average price of $196.21.

Wix.com declared that its Board of Directors has initiated a share buyback program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wix.com Company 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.