Mediolanum International Funds Ltd Has $10.05 Million Position in Wix.com Ltd. $WIX

Mediolanum International Funds Ltd increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 65.9% during the third quarter, Holdings Channel reports. The institutional investor owned 55,647 shares of the information services provider’s stock after purchasing an additional 22,112 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Wix.com were worth $10,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Lone Pine Capital LLC acquired a new position in shares of Wix.com in the 2nd quarter worth approximately $342,485,000. Ameriprise Financial Inc. lifted its holdings in shares of Wix.com by 879.0% in the second quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider’s stock valued at $321,926,000 after purchasing an additional 1,824,070 shares in the last quarter. Senvest Management LLC boosted its position in Wix.com by 32.2% during the second quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock valued at $323,403,000 after purchasing an additional 496,770 shares during the last quarter. Norges Bank acquired a new position in Wix.com during the second quarter worth approximately $66,132,000. Finally, Lazard Asset Management LLC grew its stake in Wix.com by 27.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,542,153 shares of the information services provider’s stock valued at $244,368,000 after buying an additional 331,283 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 3.5%

Shares of Wix.com stock opened at $86.84 on Monday. Wix.com Ltd. has a 12-month low of $75.00 and a 12-month high of $246.78. The firm has a market cap of $4.87 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.42. The company’s fifty day simple moving average is $96.63 and its two-hundred day simple moving average is $126.58.

Wix.com announced that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WIX shares. Zacks Research downgraded Wix.com from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Oppenheimer reduced their target price on Wix.com from $220.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Needham & Company LLC lowered their price objective on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Royal Bank Of Canada set a $70.00 price target on shares of Wix.com in a research note on Wednesday, January 7th. Finally, Bank of America reduced their target price on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $163.86.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.