Two Sigma Advisers LP Buys 113,600 Shares of Wix.com Ltd. (NASDAQ:WIX)

Two Sigma Advisers LP increased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 106.0% in the fourth quarter, Holdings Channel reports. The firm owned 220,800 shares of the information services provider’s stock after buying an additional 113,600 shares during the quarter. Two Sigma Advisers LP’s holdings in Wix.com were worth $47,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in Wix.com by 94.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider’s stock worth $5,648,000 after buying an additional 12,807 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Wix.com by 10.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider’s stock valued at $1,166,000 after acquiring an additional 504 shares during the period. Arkadios Wealth Advisors grew its holdings in Wix.com by 22.7% during the fourth quarter. Arkadios Wealth Advisors now owns 7,193 shares of the information services provider’s stock valued at $1,543,000 after purchasing an additional 1,332 shares during the period. Ameritas Advisory Services LLC bought a new stake in Wix.com in the fourth quarter valued at approximately $321,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Wix.com by 113.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock worth $56,000 after purchasing an additional 139 shares during the period. Institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Wix.com from $276.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Benchmark lowered their price target on Wix.com from $260.00 to $245.00 and set a “buy” rating for the company in a report on Monday. Oppenheimer cut their price objective on Wix.com from $250.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Citigroup dropped their target price on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.95.

Wix.com Trading Down 1.4%

NASDAQ:WIX opened at $180.22 on Tuesday. The stock has a market capitalization of $10.11 billion, a PE ratio of 76.69, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11. The firm has a fifty day simple moving average of $166.38 and a 200 day simple moving average of $197.06.

Wix.com declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.