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

Handelsbanken Fonder AB boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 17.3% in the 2nd quarter, Holdings Channel.com reports. The fund 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 reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WIX. Northwestern Mutual Wealth Management Co. lifted 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 worth $28,000 after purchasing an additional 66 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com during the 1st quarter valued at about $29,000. Geneos Wealth Management Inc. grew its holdings 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 worth $41,000 after purchasing an additional 215 shares in the last quarter. Blue Trust Inc. increased its position in shares of Wix.com by 47.8% in 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 last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Wix.com in the second quarter worth approximately $77,000. Institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank dropped 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. 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. Morgan Stanley cut their target price on shares of Wix.com from $200.00 to $181.00 and set an “overweight” rating for the company in a research 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 research note on Thursday, November 20th. Finally, Needham & Company LLC dropped their price target on Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.81.

Wix.com Stock Up 1.4%

Shares of NASDAQ:WIX opened at $95.77 on Thursday. The stock has a market cap of $5.37 billion, a PE ratio of 40.93, a PEG ratio of 1.79 and a beta of 1.31. The company’s fifty day moving average is $140.04 and its 200 day moving average is $147.50. Wix.com Ltd. has a 52 week low of $92.23 and a 52 week high of $247.11.

Wix.com announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is 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.