Schonfeld Strategic Advisors LLC Raises Stake in Wix.com Ltd. (NASDAQ:WIX)

Schonfeld Strategic Advisors LLC increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 36.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,990 shares of the information services provider’s stock after purchasing an additional 5,350 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Wix.com were worth $4,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WIX. Wellington Management Group LLP raised its holdings in Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC raised its position in Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after acquiring an additional 400,265 shares during the last quarter. Senvest Management LLC raised its position in Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after acquiring an additional 304,712 shares during the last quarter. Norges Bank purchased a new stake in shares of Wix.com in the fourth quarter valued at about $63,829,000. Finally, Alliancebernstein L.P. grew its position in shares of Wix.com by 1,382.1% in the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider’s stock valued at $55,708,000 after purchasing an additional 242,130 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of WIX stock opened at $166.83 on Friday. The company’s fifty day moving average price is $169.00 and its two-hundred day moving average price is $196.03. The firm has a market capitalization of $9.36 billion, a P/E ratio of 70.99, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 12 month low of $118.61 and a 12 month high of $247.11.

Wix.com declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

WIX has been the subject of several recent research reports. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. UBS Group set a $250.00 price target on Wix.com in a report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their target price on Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Five research analysts have rated the stock with 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.