Panagora Asset Management Inc. Purchases 15,639 Shares of Wix.com Ltd. $WIX

Panagora Asset Management Inc. grew its position in Wix.com Ltd. (NASDAQ:WIX) by 72.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 37,350 shares of the information services provider’s stock after buying an additional 15,639 shares during the period. Panagora Asset Management Inc. owned 0.07% of Wix.com worth $5,918,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WIX. Acadian Asset Management LLC increased its position in Wix.com by 0.4% in the second quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider’s stock worth $335,852,000 after purchasing an additional 7,729 shares during the period. Senvest Management LLC grew its position in shares of Wix.com by 32.2% during the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock worth $323,403,000 after buying an additional 496,770 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Wix.com by 25.8% during the first quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock worth $124,425,000 after buying an additional 155,977 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Wix.com by 38.7% in the first quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock valued at $94,892,000 after buying an additional 162,075 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Wix.com by 115.8% in the first quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock valued at $91,528,000 after acquiring an additional 300,565 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on WIX. Evercore ISI dropped their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. B. Riley reiterated a “buy” rating and issued a $200.00 price objective (down previously from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Benchmark reduced their target price on Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. JPMorgan Chase & Co. decreased their target price on Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Bank of America cut their price target on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus price target of $179.81.

Wix.com Price Performance

NASDAQ:WIX opened at $95.86 on Wednesday. The business’s 50-day simple moving average is $133.15 and its 200-day simple moving average is $144.75. Wix.com Ltd. has a fifty-two week low of $92.23 and a fifty-two week high of $247.11. The stock has a market capitalization of $5.38 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42.

Wix.com declared that its board has authorized a stock buyback plan on Monday, August 11th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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.