Headlands Technologies LLC Invests $220,000 in Wix.com Ltd. (NASDAQ:WIX)

Headlands Technologies LLC acquired a new position in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, Holdings Channel reports. The firm acquired 1,027 shares of the information services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in shares of Wix.com by 79.5% in the fourth 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. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com in the 4th quarter worth about $43,000. Global Retirement Partners LLC boosted its position in 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 position in Wix.com during the 4th quarter valued at about $52,000. Finally, Blue Trust Inc. increased its holdings in shares of Wix.com by 28.3% in the 4th 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 during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $150.01 on Friday. The stock’s 50-day moving average is $197.26 and its 200-day moving average is $196.70. The company has a market cap of $8.42 billion, a P/E ratio of 63.83, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11.

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

Analyst Upgrades and Downgrades

WIX has been the subject of several research reports. Jefferies Financial Group raised their price target on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Scotiabank assumed coverage on Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective for the company. Finally, Barclays upped their target price on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.74.

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.