Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 51.6% in the 4th quarter, Holdings Channel reports. The firm owned 6,211 shares of the information services provider’s stock after selling 6,631 shares during the period. Investment Management Corp of Ontario’s holdings in Wix.com were worth $1,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Wix.com by 518.3% during the 4th 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 in the last quarter. Dorsal Capital Management LP grew its position in Wix.com by 1.8% during the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock worth $305,734,000 after purchasing an additional 25,000 shares in the last quarter. Senvest Management LLC grew its position in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wix.com by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock worth $201,151,000 after buying an additional 162,400 shares in the last quarter. Finally, Dorsey Asset Management LLC lifted its position in Wix.com by 4.5% in the 4th quarter. Dorsey Asset Management LLC now owns 578,741 shares of the information services provider’s stock worth $124,169,000 after buying an additional 24,847 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Price Performance

Shares of Wix.com stock opened at $179.71 on Tuesday. Wix.com Ltd. has a fifty-two week low of $125.44 and a fifty-two week high of $247.11. The firm has a fifty day moving average price of $165.87 and a two-hundred day moving average price of $196.45. The company has a market cap of $10.08 billion, a PE ratio of 76.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WIX shares. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Cantor Fitzgerald increased their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark increased their target price on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Five 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.74.

About Wix.com

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.