BIT Capital GmbH Buys New Stake in Wix.com Ltd. $WIX

BIT Capital GmbH purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,526 shares of the information services provider’s stock, valued at approximately $2,047,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Westside Investment Management Inc. raised its stake in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its stake 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 buying an additional 215 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Wix.com during the 2nd quarter worth about $77,000. Tower Research Capital LLC TRC raised its position in shares of Wix.com by 508.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock worth $123,000 after buying an additional 651 shares in the last quarter. Finally, Aviso Financial Inc. acquired a new stake in shares of Wix.com in the 2nd quarter worth approximately $133,000. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WIX shares. Oppenheimer dropped their target price on Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Citigroup lowered their price target on Wix.com from $197.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Scotiabank cut their price objective on Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a report on Thursday, November 20th. Morgan Stanley decreased their target price on Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Finally, Raymond James Financial set a $74.00 price target on shares of Wix.com in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $161.30.

Wix.com Stock Performance

WIX stock opened at $66.72 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of 28.51, a P/E/G ratio of 2.14 and a beta of 1.42. The firm has a 50 day simple moving average of $89.46 and a 200 day simple moving average of $119.58. Wix.com Ltd. has a 52 week low of $65.45 and a 52 week high of $215.00.

Wix.com announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wix.com Profile

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.