Handelsbanken Fonder AB Increases Stock Position in Wix.com Ltd. $WIX

Handelsbanken Fonder AB lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,583 shares of the information services provider’s stock after purchasing an additional 1,558 shares during the period. Handelsbanken Fonder AB’s holdings in Wix.com were worth $1,677,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after buying an additional 66 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings 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 valued at $161,000 after acquiring an additional 79 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Wix.com by 28.4% during the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock valued at $81,000 after acquiring an additional 109 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Wix.com by 25.4% during the second quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock worth $95,000 after acquiring an additional 121 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after acquiring an additional 132 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Up 1.4%

WIX opened at $95.77 on Thursday. Wix.com Ltd. has a 12 month low of $92.23 and a 12 month high of $247.11. The company has a market cap of $5.37 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.31. The company has a 50 day moving average of $140.04 and a 200 day moving average of $147.50.

Wix.com announced that its board has initiated a share repurchase 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 repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

WIX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Oppenheimer lowered their price objective on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Scotiabank reduced their target price on shares of Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 20th. Finally, B. Riley reaffirmed a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.81.

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.