Wix.com Ltd. (NASDAQ:WIX) Shares Purchased by Inceptionr LLC

Inceptionr LLC boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 232.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,993 shares of the information services provider’s stock after purchasing an additional 4,188 shares during the period. Inceptionr LLC’s holdings in Wix.com were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Senvest Management LLC increased its position in Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after acquiring an additional 50,482 shares during the period. Whale Rock Capital Management LLC boosted its holdings 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 valued at $115,475,000 after purchasing an additional 165,810 shares in the last quarter. SG Americas Securities LLC boosted 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 valued at $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Performance

WIX stock opened at $197.53 on Thursday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The stock’s 50 day moving average price is $222.52 and its 200 day moving average price is $195.61. The firm has a market cap of $10.83 billion, a P/E ratio of 84.06, a PEG ratio of 2.83 and a beta of 1.58.

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

Analyst Ratings Changes

A number of brokerages have weighed in on WIX. Citigroup lifted their price objective on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Bank of America lifted their price objective on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Scotiabank began coverage on Wix.com in a report on Wednesday. They issued a “sector outperform” rating and a $250.00 price objective on the stock. Finally, Barclays lifted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.05.

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.