Trexquant Investment LP Sells 13,723 Shares of Wix.com Ltd. (NASDAQ:WIX)

Trexquant Investment LP cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,817 shares of the information services provider’s stock after selling 13,723 shares during the quarter. Trexquant Investment LP owned approximately 0.19% of Wix.com worth $21,845,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WIX. Wellington Management Group LLP boosted its holdings in shares of Wix.com by 518.3% in the fourth 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 during the period. Whale Rock Capital Management LLC increased its stake in Wix.com by 31.6% in the 3rd 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 during the period. Geode Capital Management LLC grew its position in shares of Wix.com by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider’s stock worth $102,926,000 after buying an additional 19,633 shares during the last quarter. SG Americas Securities LLC raised its holdings in 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 worth $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Wix.com by 4.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider’s stock worth $67,377,000 after acquiring an additional 12,531 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of WIX stock opened at $163.38 on Tuesday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 69.52, a PEG ratio of 2.83 and a beta of 1.64. The company’s fifty day moving average price is $203.44 and its 200-day moving average price is $197.20.

Wix.com announced that its board has initiated a stock repurchase 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 repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on WIX. Piper Sandler boosted their target price on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Benchmark increased their price objective on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their target price on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their target price on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Finally, Cantor Fitzgerald increased their price objective on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.