Geode Capital Management LLC Acquires 12,210 Shares of Wix.com Ltd. $WIX

Geode Capital Management LLC lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 491,958 shares of the information services provider's stock after purchasing an additional 12,210 shares during the quarter. Geode Capital Management LLC owned approximately 0.88% of Wix.com worth $77,466,000 as of its most recent SEC filing.

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Several other institutional investors and hedge funds have also modified their holdings of WIX. Northwestern Mutual Wealth Management Co. increased its position in Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock worth $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com during the 1st quarter worth about $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Wix.com in the 2nd quarter valued at approximately $77,000. Institutional investors and hedge funds own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WIX shares. Needham & Company LLC lowered their price target on Wix.com from $200.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday. Scotiabank decreased their price objective on shares of Wix.com from $255.00 to $175.00 and set a "sector outperform" rating for the company in a report on Thursday. Evercore ISI dropped their target price on shares of Wix.com from $250.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Wix.com in a report on Wednesday, October 8th. Finally, JMP Securities set a $185.00 price objective on Wix.com in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $181.24.

• 3 Reasons Wix Could Rally 50% Into the Summer

Get Our Latest Analysis on WIX

Wix.com Stock Performance

Shares of WIX opened at $95.51 on Friday. The company has a 50-day simple moving average of $144.97 and a 200-day simple moving average of $149.08. The firm has a market capitalization of $5.36 billion, a P/E ratio of 40.82, a P/E/G ratio of 1.97 and a beta of 1.31. Wix.com Ltd. has a 52 week low of $93.50 and a 52 week high of $247.11.

• Why Block's Key Components Make It a Solid Investment Choice

Wix.com announced that its Board of Directors has authorized a stock buyback program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign 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.

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Want to see what other hedge funds are holding WIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wix.com Ltd. (NASDAQ:WIX - Free Report).

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