Investment Management Corp of Ontario Invests $2.15 Million in Wix.com Ltd. (NASDAQ:WIX)

Investment Management Corp of Ontario purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,842 shares of the information services provider’s stock, valued at approximately $2,147,000.

Several other institutional investors have also modified their holdings of WIX. Dorsal Capital Management LP raised its holdings in shares of Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares during the period. Captrust Financial Advisors raised its holdings in Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after buying an additional 201,532 shares during the period. Renaissance Technologies LLC raised its holdings in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares during the period. Driehaus Capital Management LLC purchased a new stake in Wix.com in the 2nd quarter valued at about $13,646,000. Finally, Senvest Management LLC raised its holdings in Wix.com by 4.7% in 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 buying an additional 50,482 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of Wix.com stock opened at $229.35 on Thursday. The business has a 50-day simple moving average of $180.35 and a 200-day simple moving average of $168.29. The company has a market cap of $12.57 billion, a PE ratio of 143.34, a P/E/G ratio of 4.23 and a beta of 1.55. Wix.com Ltd. has a one year low of $101.72 and a one year high of $229.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WIX shares. Bank of America boosted their price objective on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Benchmark boosted their price objective on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler boosted their price objective on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Robert W. Baird boosted their price target on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.71.

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.