Headlands Technologies LLC Invests $220,000 in Wix.com Ltd. (NASDAQ:WIX)

Headlands Technologies LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,027 shares of the information services provider’s stock, valued at approximately $220,000.

Several other large investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after purchasing an additional 89 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the fourth quarter worth about $43,000. Global Retirement Partners LLC boosted its stake in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Wix.com during the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. raised its position in shares of Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on WIX shares. Wells Fargo & Company lowered their price objective on Wix.com from $194.00 to $169.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Cantor Fitzgerald upped their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. UBS Group set a $250.00 price objective on shares of Wix.com in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Price Performance

WIX stock opened at $150.01 on Friday. The firm has a market cap of $8.42 billion, a PE ratio of 63.83, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a 50 day simple moving average of $197.26 and a 200 day simple moving average of $196.70.

Wix.com declared that its Board of Directors has initiated a share buyback program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership 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.