Connor Clark & Lunn Investment Management Ltd. Has $67.38 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 314,039 shares of the information services provider’s stock after buying an additional 12,531 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wix.com were worth $67,377,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Senvest Management LLC increased its holdings in Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after buying an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC grew its position in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Wix.com by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in shares of Wix.com by 2.7% during the 4th quarter. Meitav Investment House Ltd. now owns 252,951 shares of the information services provider’s stock valued at $54,248,000 after purchasing an additional 6,713 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 0.5 %

Wix.com stock opened at $175.00 on Thursday. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 74.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The business has a 50 day moving average price of $218.64 and a two-hundred day moving average price of $195.97.

Wix.com declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on WIX. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Citigroup boosted their target price on Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and an average target price of $243.74.

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.