BIT Capital GmbH Acquires New Holdings in Wix.com Ltd. $WIX

BIT Capital GmbH bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the third quarter, Holdings Channel.com reports. The institutional investor bought 11,526 shares of the information services provider’s stock, valued at approximately $2,047,000.

Several other hedge funds also recently modified their holdings of the business. Westside Investment Management Inc. raised its holdings in shares of Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its position in 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 buying an additional 215 shares during the last quarter. Penserra Capital Management LLC bought a new position in Wix.com during the second quarter valued at about $77,000. Tower Research Capital LLC TRC lifted its position in shares of Wix.com by 508.6% in the second quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock worth $123,000 after buying an additional 651 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Wix.com by 32.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock worth $141,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 3.0%

Shares of NASDAQ:WIX opened at $66.72 on Friday. The firm has a market capitalization of $3.74 billion, a PE ratio of 28.51, a PEG ratio of 2.14 and a beta of 1.42. Wix.com Ltd. has a 1-year low of $65.45 and a 1-year high of $215.00. The business’s 50 day moving average is $89.46 and its 200-day moving average is $119.58.

Wix.com announced that its board has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to buy up to 40.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WIX. B. Riley Financial reissued a “buy” rating and issued a $200.00 price objective (down from $230.00) on shares of Wix.com in a research note on Thursday, November 20th. Barclays reduced their price objective on shares of Wix.com from $210.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Wells Fargo & Company lowered their target price on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Needham & Company LLC decreased their price target on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $161.30.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.