Driehaus Capital Management LLC Buys 75,497 Shares of Wix.com Ltd. (NASDAQ:WIX)

Driehaus Capital Management LLC grew its stake in Wix.com Ltd. (NASDAQ:WIX) by 43.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 247,812 shares of the information services provider’s stock after purchasing an additional 75,497 shares during the period. Driehaus Capital Management LLC’s holdings in Wix.com were worth $53,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the period. Dorsal Capital Management LP raised its position in shares of Wix.com by 1.8% in the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock worth $305,734,000 after acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC grew its stake in Wix.com by 27.3% in the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after purchasing an additional 304,712 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wix.com by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock valued at $201,151,000 after purchasing an additional 162,400 shares during the last quarter. Finally, Dorsey Asset Management LLC raised its stake in Wix.com by 4.5% in the fourth quarter. Dorsey Asset Management LLC now owns 578,741 shares of the information services provider’s stock valued at $124,169,000 after buying an additional 24,847 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WIX. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Jefferies Financial Group cut their target price on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 7th. Benchmark increased their target price on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.74.

Wix.com Price Performance

Wix.com stock opened at $166.45 on Thursday. The stock’s fifty day moving average is $166.90 and its two-hundred day moving average is $195.86. The stock has a market cap of $9.34 billion, a PE ratio of 70.83, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $119.25 and a 1-year high of $247.11.

Wix.com announced that its board has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.