BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in Wix.com Ltd. $WIX

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Wix.com Ltd. (NASDAQ:WIX) by 35.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,033 shares of the information services provider’s stock after purchasing an additional 23,557 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.16% of Wix.com worth $15,994,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its stake in shares of Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after buying an additional 77 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the period. Penserra Capital Management LLC acquired a new position in Wix.com in the 2nd quarter valued at about $77,000. Tower Research Capital LLC TRC increased its stake in Wix.com by 508.6% during the second quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock worth $123,000 after purchasing an additional 651 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Wix.com by 32.7% during the third quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock worth $141,000 after purchasing an additional 195 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WIX. Evercore dropped their price objective on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Barclays decreased their price target on shares of Wix.com from $210.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Oppenheimer decreased their target price on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Bank of America cut their price target on Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Wix.com in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.30.

Wix.com Price Performance

Wix.com stock opened at $66.72 on Friday. The stock has a market cap of $3.74 billion, a PE ratio of 28.51, a P/E/G ratio of 2.14 and a beta of 1.42. The stock’s fifty day moving average is $89.46 and its two-hundred day moving average is $119.58. Wix.com Ltd. has a 1-year low of $65.45 and a 1-year high of $215.00.

Wix.com announced that its Board of Directors has approved a stock buyback program on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.