Mediolanum International Funds Ltd Has $5.30 Million Stake in Wix.com Ltd. $WIX

Mediolanum International Funds Ltd lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 74.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,535 shares of the information services provider’s stock after purchasing an additional 14,314 shares during the period. Mediolanum International Funds Ltd owned about 0.06% of Wix.com worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its position in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after buying an additional 66 shares during the period. Twin Tree Management LP bought a new position in shares of Wix.com during the first quarter valued at $29,000. Geneos Wealth Management Inc. raised its stake in shares of Wix.com by 632.4% during the first 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 last quarter. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 132 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Wix.com in the second quarter worth $77,000. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WIX. Cantor Fitzgerald lowered their target price on Wix.com from $160.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Piper Sandler lifted their price objective on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Citizens Jmp cut their price target on shares of Wix.com from $210.00 to $185.00 and set a “market outperform” rating on the stock in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.24.

Wix.com Stock Down 4.0%

Shares of WIX opened at $95.51 on Friday. The stock has a market cap of $5.36 billion, a P/E ratio of 40.82, a P/E/G ratio of 1.97 and a beta of 1.31. The business’s fifty day moving average is $144.97 and its 200 day moving average is $149.08. Wix.com Ltd. has a 12-month low of $93.50 and a 12-month high of $247.11.

Wix.com announced that its board has authorized a share buyback program on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wix.com 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.