Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its holdings in Wix.com Ltd. (NASDAQ:WIX) by 39.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,918 shares of the information services provider’s stock after selling 1,230 shares during the quarter. Magnetar Financial LLC’s holdings in Wix.com were worth $412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after acquiring an additional 11,497 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Wix.com in the fourth quarter valued at $256,000. Loomis Sayles & Co. L P lifted its holdings in Wix.com by 23.9% in the third quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider’s stock valued at $31,552,000 after acquiring an additional 36,459 shares during the period. XTX Topco Ltd lifted its holdings in Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after acquiring an additional 6,919 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in Wix.com in the third quarter valued at $890,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Up 1.9 %

Shares of NASDAQ:WIX opened at $172.33 on Friday. The stock’s 50-day moving average price is $211.60 and its two-hundred day moving average price is $196.33. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 73.33, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of recent analyst reports. Citigroup raised their target price on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Cantor Fitzgerald raised their price target on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $248.00 to $276.00 in a research report on Monday, January 13th. Raymond James upgraded 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 research report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.74.

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.