Wix.com Ltd. (NASDAQ:WIX) Stock Holdings Increased by Vestcor Inc

Vestcor Inc increased its position in Wix.com Ltd. (NASDAQ:WIX) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 853 shares of the information services provider’s stock after buying an additional 63 shares during the period. Vestcor Inc’s holdings in Wix.com were worth $183,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Wix.com in the fourth quarter worth approximately $256,000. Oppenheimer & Co. Inc. acquired a new position in Wix.com in the third quarter worth approximately $461,000. Loomis Sayles & Co. L P grew its holdings in Wix.com by 23.9% during the third quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider’s stock valued at $31,552,000 after purchasing an additional 36,459 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Wix.com by 348.6% during the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after purchasing an additional 6,919 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

WIX has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. B. Riley increased their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company lowered their price target on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Scotiabank initiated coverage on Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price target on the stock. Finally, Bank of America increased their price target on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Price Performance

Shares of WIX stock opened at $168.11 on Wednesday. The stock has a market cap of $9.22 billion, a P/E ratio of 71.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock has a fifty day moving average price of $214.67 and a 200 day moving average price of $196.37.

Wix.com declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors 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.