Hel Ved Capital Management Ltd Grows Position in Wix.com Ltd. (NASDAQ:WIX)

Hel Ved Capital Management Ltd lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 119.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,270 shares of the information services provider’s stock after buying an additional 19,200 shares during the period. Wix.com makes up approximately 2.2% of Hel Ved Capital Management Ltd’s holdings, making the stock its 11th largest position. Hel Ved Capital Management Ltd owned approximately 0.06% of Wix.com worth $7,567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Wix.com during the 4th quarter worth approximately $256,000. XTX Topco Ltd raised its holdings in Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after buying an additional 6,919 shares during the period. Bank of New York Mellon Corp boosted its position in Wix.com by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock worth $26,738,000 after purchasing an additional 11,048 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Wix.com by 5.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock valued at $22,603,000 after buying an additional 5,286 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Wix.com during the fourth quarter valued at approximately $321,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Trading Down 3.8 %

Shares of NASDAQ WIX opened at $150.01 on Friday. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The firm has a market capitalization of $8.42 billion, a P/E ratio of 63.83, a P/E/G ratio of 2.83 and a beta of 1.65. The firm’s 50-day moving average price is $197.26 and its 200-day moving average price is $196.70.

Wix.com declared that its board has authorized a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase 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 shares are undervalued.

Analysts Set New Price Targets

WIX has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note 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 price objective for the company. Cantor Fitzgerald boosted their target price on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. One investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.74.

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.