Quantbot Technologies LP Trims Position in Wix.com Ltd. $WIX

Quantbot Technologies LP decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 56.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,852 shares of the information services provider’s stock after selling 22,739 shares during the period. Quantbot Technologies LP’s holdings in Wix.com were worth $2,829,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WIX. M&T Bank Corp lifted its position in Wix.com by 53.8% during the 2nd quarter. M&T Bank Corp now owns 1,899 shares of the information services provider’s stock worth $301,000 after acquiring an additional 664 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Wix.com during the second quarter worth approximately $2,433,000. Panagora Asset Management Inc. lifted its holdings in shares of Wix.com by 72.0% during the second quarter. Panagora Asset Management Inc. now owns 37,350 shares of the information services provider’s stock worth $5,918,000 after purchasing an additional 15,639 shares during the period. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Wix.com by 19.7% during the second quarter. Grandeur Peak Global Advisors LLC now owns 3,683 shares of the information services provider’s stock worth $584,000 after purchasing an additional 606 shares during the period. Finally, New York State Common Retirement Fund grew its position in Wix.com by 2.6% in the 2nd quarter. New York State Common Retirement Fund now owns 142,095 shares of the information services provider’s stock valued at $22,516,000 after buying an additional 3,578 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer reduced their target price on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Cantor Fitzgerald cut their price target on shares of Wix.com from $160.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. UBS Group set a $170.00 price objective on Wix.com in a report on Monday, November 24th. Barclays dropped their target price on Wix.com from $235.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $179.81.

Wix.com Trading Down 0.1%

WIX stock opened at $102.64 on Friday. The firm has a 50 day moving average of $130.15 and a 200-day moving average of $144.17. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 43.86, a PEG ratio of 2.03 and a beta of 1.42. Wix.com Ltd. has a 12-month low of $92.23 and a 12-month high of $247.11.

Wix.com declared that its Board of Directors has authorized a share repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Wix.com

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.