Picton Mahoney Asset Management Acquires New Holdings in Wix.com Ltd. (NASDAQ:WIX)

Picton Mahoney Asset Management bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,055 shares of the information services provider’s stock, valued at approximately $226,000.

Several other hedge funds have also modified their holdings of WIX. BNP Paribas Financial Markets grew its stake in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com during the fourth quarter worth about $256,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wix.com during the third quarter valued at about $461,000. Loomis Sayles & Co. L P raised its position in shares of Wix.com by 23.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider’s stock valued at $31,552,000 after purchasing an additional 36,459 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Wix.com by 348.6% in the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after purchasing an additional 6,919 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WIX. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $248.00 to $276.00 in a research note on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Barclays boosted their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group set a $250.00 price objective on Wix.com in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $243.74.

Wix.com Stock Down 0.1 %

Shares of Wix.com stock opened at $172.59 on Monday. The firm has a market cap of $9.46 billion, a PE ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The business has a 50-day moving average price of $216.76 and a 200 day moving average price of $196.28.

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

Wix.com 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.