Edmond DE Rothschild Holding S.A. Takes $114,000 Position in Wix.com Ltd. (NASDAQ:WIX)

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, HoldingsChannel reports. The fund acquired 530 shares of the information services provider’s stock, valued at approximately $114,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WIX. Charles Schwab Investment Management Inc. increased its stake in Wix.com by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider’s stock valued at $6,078,000 after purchasing an additional 613 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Wix.com by 60.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after buying an additional 11,497 shares in the last quarter. Investment Management Corp of Ontario bought a new stake in shares of Wix.com in the 3rd quarter valued at $2,147,000. Polar Asset Management Partners Inc. raised its stake in Wix.com by 192.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after buying an additional 64,869 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Wix.com by 5.2% during the third quarter. Quantinno Capital Management LP now owns 10,385 shares of the information services provider’s stock worth $1,736,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Wix.com stock opened at $165.87 on Thursday. The company’s 50-day moving average is $200.57 and its 200-day moving average is $197.03. The firm has a market capitalization of $9.31 billion, a PE ratio of 70.58, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Wix.com announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Barclays upped their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Wix.com in a report on Thursday, February 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target 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.