Wix.com Ltd. (NASDAQ:WIX) Shares Acquired by Dorsey Asset Management LLC

Dorsey Asset Management LLC boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 4.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 578,741 shares of the information services provider’s stock after purchasing an additional 24,847 shares during the period. Wix.com comprises about 12.8% of Dorsey Asset Management LLC’s investment portfolio, making the stock its biggest position. Dorsey Asset Management LLC’s holdings in Wix.com were worth $124,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com in the fourth quarter valued at approximately $256,000. Bank of New York Mellon Corp increased its holdings in Wix.com by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after purchasing an additional 11,048 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Wix.com by 5.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock valued at $22,603,000 after purchasing an additional 5,286 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Wix.com in the 4th quarter valued at $321,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Wix.com by 159.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 22,596 shares of the information services provider’s stock worth $4,848,000 after purchasing an additional 13,894 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of research analyst reports. Oppenheimer cut their price target on Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Cfra Research lowered shares of Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Jefferies Financial Group decreased their price target on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler boosted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company upgraded Wix.com from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.74.

Wix.com Stock Down 1.4 %

Shares of WIX stock opened at $164.13 on Wednesday. Wix.com Ltd. has a 12-month low of $118.61 and a 12-month high of $247.11. The firm has a fifty day moving average of $167.59 and a 200-day moving average of $196.06. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 69.84, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

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

Wix.com 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.