Hel Ved Capital Management Ltd Buys 19,200 Shares of Wix.com Ltd. (NASDAQ:WIX)

Hel Ved Capital Management Ltd lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 119.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,270 shares of the information services provider’s stock after buying an additional 19,200 shares during the period. Wix.com comprises 2.2% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 11th largest position. Hel Ved Capital Management Ltd’s holdings in Wix.com were worth $7,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Wix.com by 518.3% in 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 buying an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC raised its holdings in Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the period. Norges Bank bought a new position in shares of Wix.com during the 4th quarter valued at approximately $63,829,000. Alliancebernstein L.P. increased its stake 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 worth $55,708,000 after purchasing an additional 242,130 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares during the period. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WIX shares. Cantor Fitzgerald boosted their target price on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. Piper Sandler lifted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $243.74.

Wix.com Price Performance

WIX opened at $150.01 on Friday. The firm has a market capitalization of $8.42 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The business’s 50-day moving average is $197.26 and its two-hundred day moving average is $196.70. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.

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

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.