GAMMA Investing LLC Raises Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

GAMMA Investing LLC lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 12,771.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,763 shares of the information services provider’s stock after purchasing an additional 69,221 shares during the quarter. GAMMA Investing LLC owned 0.12% of Wix.com worth $11,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its holdings in shares of Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Vestcor Inc grew its holdings in shares of Wix.com by 8.0% during the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after purchasing an additional 63 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Wix.com by 9.7% during the fourth quarter. Bessemer Group Inc. now owns 871 shares of the information services provider’s stock worth $188,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of WIX stock opened at $152.32 on Friday. Wix.com Ltd. has a fifty-two week low of $137.94 and a fifty-two week high of $247.11. The stock has a 50 day moving average price of $161.79 and a two-hundred day moving average price of $194.44. The company has a market capitalization of $8.55 billion, a P/E ratio of 64.82, a PEG ratio of 2.83 and a beta of 1.31.

Wix.com declared that its Board of Directors has approved a share repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upped their target price on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Robert W. Baird raised Wix.com from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $215.00 to $190.00 in a research note on Friday, May 23rd. Baird R W raised Wix.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. Jefferies Financial Group cut their target price on Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of Wix.com in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $226.68.

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.