Investment Management Corp of Ontario Purchases New Position in Wix.com Ltd. (NASDAQ:WIX)

Investment Management Corp of Ontario purchased a new stake in Wix.com Ltd. (NASDAQ:WIX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 12,842 shares of the information services provider’s stock, valued at approximately $2,147,000.

Several other large investors have also modified their holdings of WIX. Blue Trust Inc. boosted its holdings in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the period. CWM LLC raised its stake in shares of Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the last quarter. Finally, Metis Global Partners LLC purchased a new stake in shares of Wix.com during the third quarter worth approximately $200,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

Wix.com stock opened at $229.35 on Thursday. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 143.34, a price-to-earnings-growth ratio of 4.23 and a beta of 1.55. Wix.com Ltd. has a fifty-two week low of $101.72 and a fifty-two week high of $229.79. The stock’s fifty day moving average is $180.35 and its two-hundred day moving average is $168.29.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WIX. JPMorgan Chase & Co. upped their price target on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Bank of America upped their price target on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. B. Riley upped their price target on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Benchmark upped their price target on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

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.