Vinva Investment Management Ltd Acquires 13,510 Shares of Wix.com Ltd. (NASDAQ:WIX)

Vinva Investment Management Ltd increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,219 shares of the information services provider’s stock after acquiring an additional 13,510 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.13% of Wix.com worth $15,845,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Senvest Management LLC lifted its holdings in Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of 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 valued at $115,475,000 after buying an additional 165,810 shares during the period. SG Americas Securities LLC raised its stake in shares of Wix.com by 558.5% in the fourth 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 during the period. Geode Capital Management LLC raised its stake in shares of Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after buying an additional 14,340 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Wix.com by 4.2% in the fourth 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 during the period. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Down 3.9 %

WIX opened at $168.11 on Wednesday. The stock has a 50-day moving average price of $214.67 and a 200-day moving average price of $196.37. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The stock has a market capitalization of $9.22 billion, a P/E ratio of 71.54, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has initiated a share repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

WIX has been the topic of several research reports. StockNews.com upgraded Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler boosted their target price on Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Finally, Barclays lifted their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.74.

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.