Aigen Investment Management LP Takes Position in Wix.com Ltd. (NASDAQ:WIX)

Aigen Investment Management LP bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,097 shares of the information services provider’s stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WIX. SG Americas Securities LLC raised its holdings in shares of Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares during the last quarter. Captrust Financial Advisors raised its holdings in Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after purchasing an additional 201,532 shares in the last quarter. 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 worth $115,475,000 after purchasing an additional 165,810 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Wix.com by 90.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock worth $39,859,000 after purchasing an additional 87,327 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its holdings in Wix.com by 192.9% during the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after purchasing an additional 64,869 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on WIX shares. Scotiabank started coverage on shares of Wix.com in a report on Wednesday. They set a “sector outperform” rating and a $250.00 price target for the company. StockNews.com cut shares of Wix.com from a “strong-buy” rating to a “buy” rating in a report on Thursday. Barclays increased their price target on shares of Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Wells Fargo & Company initiated coverage on shares of Wix.com in a report on Monday, February 3rd. They set an “underweight” rating and a $208.00 price target for the company. Finally, Jefferies Financial Group upped their target price on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.05.

Wix.com Price Performance

WIX stock opened at $187.00 on Friday. The company’s 50 day simple moving average is $221.78 and its 200-day simple moving average is $195.55. The firm has a market capitalization of $10.25 billion, a PE ratio of 79.57, a P/E/G ratio of 2.83 and a beta of 1.58. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.

Wix.com announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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.