GDS Wealth Management Increases Stock Holdings in Wix.com Ltd. $WIX

GDS Wealth Management boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 58.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,320 shares of the information services provider’s stock after acquiring an additional 24,571 shares during the quarter. GDS Wealth Management owned about 0.12% of Wix.com worth $10,509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WIX. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Wix.com by 8.9% in the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after acquiring an additional 79 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock valued at $81,000 after purchasing an additional 109 shares during the last quarter. TD Private Client Wealth LLC grew its stake in Wix.com by 25.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock valued at $95,000 after purchasing an additional 121 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

WIX has been the subject of several research analyst reports. Cfra Research upgraded Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Wix.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Raymond James Financial restated a “strong-buy” rating on shares of Wix.com in a research note on Thursday, August 7th. JMP Securities reiterated a “market outperform” rating and issued a $210.00 target price on shares of Wix.com in a research report on Friday, October 3rd. Finally, Bank of America reduced their price objective on Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $207.85.

Wix.com Price Performance

Shares of WIX stock opened at $101.70 on Thursday. Wix.com Ltd. has a 12-month low of $99.31 and a 12-month high of $247.11. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 2.37 and a beta of 1.31. The business has a 50 day simple moving average of $147.89 and a 200 day simple moving average of $150.03.

Wix.com declared that its board has approved a stock buyback plan on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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.