Point72 Hong Kong Ltd Purchases New Shares in Wix.com Ltd. (NASDAQ:WIX)

Point72 Hong Kong Ltd purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,155 shares of the information services provider’s stock, valued at approximately $2,179,000.

Other large investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in Wix.com during the 4th quarter valued at $256,000. Bank of New York Mellon Corp grew its holdings 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 valued at $26,738,000 after purchasing an additional 11,048 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock valued at $22,603,000 after purchasing an additional 5,286 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Wix.com during the 4th quarter valued at $321,000. Finally, Van ECK Associates Corp grew its holdings in Wix.com by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock valued at $3,636,000 after purchasing an additional 107 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

NASDAQ WIX opened at $182.91 on Friday. Wix.com Ltd. has a one year low of $134.74 and a one year high of $247.11. The company has a 50-day simple moving average of $166.14 and a 200-day simple moving average of $196.45. The firm has a market capitalization of $10.26 billion, a PE ratio of 77.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has approved a stock buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WIX. Oppenheimer lowered their price target on shares of Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. UBS Group set a $250.00 price objective on shares of Wix.com in a report on Wednesday, March 5th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Jefferies Financial Group decreased their price objective on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Scotiabank initiated coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.74.

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.