14,987 Shares in Wix.com Ltd. (NASDAQ:WIX) Purchased by Elwood Capital Partners LP

Elwood Capital Partners LP bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,987 shares of the information services provider’s stock, valued at approximately $3,215,000. Wix.com accounts for about 3.2% of Elwood Capital Partners LP’s investment portfolio, making the stock its 9th largest position.

Several other large investors have also modified their holdings of WIX. Wellington Management Group LLP raised its position in shares of Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after acquiring an additional 1,266,202 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wix.com by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider’s stock valued at $102,926,000 after buying an additional 19,633 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Wix.com by 4.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider’s stock valued at $67,377,000 after buying an additional 12,531 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

WIX has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Raymond James raised 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 report on Tuesday, January 21st. Cantor Fitzgerald raised their price objective on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Scotiabank started coverage on Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 target price on the stock. 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 research 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 stock. According to data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Price Performance

NASDAQ WIX opened at $163.38 on Tuesday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The company has a market capitalization of $9.17 billion, a PE ratio of 69.52, a P/E/G ratio of 2.83 and a beta of 1.64. The company has a fifty day moving average of $203.44 and a 200 day moving average of $197.20.

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

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.