GDS Wealth Management Grows Stake in Wix.com Ltd. (NASDAQ:WIX)

GDS Wealth Management increased its position in Wix.com Ltd. (NASDAQ:WIX) by 846.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,735 shares of the information services provider’s stock after purchasing an additional 21,226 shares during the quarter. GDS Wealth Management’s holdings in Wix.com were worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC boosted its holdings in Wix.com by 558.5% in the fourth 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 period. Captrust Financial Advisors raised its stake in shares of Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after purchasing an additional 201,532 shares in the last quarter. Whale Rock Capital Management LLC lifted 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 purchasing an additional 165,810 shares during the period. Polar Asset Management Partners Inc. boosted its position in shares of Wix.com by 192.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock valued at $16,466,000 after purchasing an additional 64,869 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Wix.com in the 3rd quarter worth $10,523,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WIX. Royal Bank of Canada raised their target price on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. B. Riley upped their price target on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Cantor Fitzgerald increased their target price on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Benchmark upped their price target on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.61.

Wix.com Stock Performance

NASDAQ:WIX opened at $230.49 on Tuesday. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11. The company has a market cap of $12.64 billion, a P/E ratio of 144.06, a P/E/G ratio of 2.66 and a beta of 1.58. The stock’s 50-day simple moving average is $225.74 and its 200 day simple moving average is $187.01.

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.