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

Magnetar Financial LLC cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 39.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,918 shares of the information services provider’s stock after selling 1,230 shares during the period. Magnetar Financial LLC’s holdings in Wix.com were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIX. Natixis Advisors LLC lifted its position in Wix.com by 2.2% during the 3rd quarter. Natixis Advisors LLC now owns 14,414 shares of the information services provider’s stock worth $2,410,000 after acquiring an additional 306 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Wix.com during the 3rd quarter worth approximately $254,000. Charles Schwab Investment Management Inc. increased its holdings in Wix.com by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider’s stock worth $6,078,000 after purchasing an additional 613 shares during the last quarter. Finally, Senvest Management LLC increased its holdings 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 worth $186,910,000 after purchasing an additional 50,482 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

Shares of WIX stock opened at $172.33 on Friday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The stock has a fifty day moving average of $211.60 and a two-hundred day moving average of $196.33. The firm has a market capitalization of $9.45 billion, a PE ratio of 73.33, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

Wix.com announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

WIX has been the topic of several analyst reports. Bank of America lifted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. UBS Group set a $250.00 price objective on Wix.com in a report on Wednesday, March 5th. Scotiabank assumed coverage on Wix.com in a report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.74.

About Wix.com

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.