Vinva Investment Management Ltd Buys 13,510 Shares of Wix.com Ltd. (NASDAQ:WIX)

Vinva Investment Management Ltd increased its stake in Wix.com Ltd. (NASDAQ:WIX) by 23.4% in the fourth quarter, HoldingsChannel reports. The fund owned 71,219 shares of the information services provider’s stock after purchasing an additional 13,510 shares during the period. Vinva Investment Management Ltd’s holdings in Wix.com were worth $15,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WIX. Advisors Asset Management Inc. lifted its stake in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC raised its position in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC raised its position in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wix.com during the 4th quarter valued at approximately $52,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 3.9 %

Wix.com stock opened at $168.11 on Wednesday. The stock’s 50 day moving average is $214.67 and its 200 day moving average is $196.37. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The company has a market capitalization of $9.22 billion, a P/E ratio of 71.54, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding 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 often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WIX. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a research report on Tuesday, February 18th. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 14th. Barclays upped their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

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.