Grandeur Peak Global Advisors LLC Purchases 606 Shares of Wix.com Ltd. $WIX

Grandeur Peak Global Advisors LLC grew its position in Wix.com Ltd. (NASDAQ:WIX) by 19.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,683 shares of the information services provider’s stock after acquiring an additional 606 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Wix.com were worth $584,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WIX. Northwestern Mutual Wealth Management Co. lifted its stake in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 66 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Wix.com by 8.9% in the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock valued at $161,000 after buying an additional 79 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock valued at $81,000 after buying an additional 109 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Wix.com by 25.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock worth $95,000 after acquiring an additional 121 shares during the period. Finally, 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 worth $65,000 after acquiring an additional 132 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

NASDAQ:WIX opened at $95.90 on Friday. Wix.com Ltd. has a 52 week low of $92.23 and a 52 week high of $247.11. The firm’s 50-day simple moving average is $136.57 and its 200 day simple moving average is $146.29. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 1.82 and a beta of 1.31.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WIX shares. Royal Bank Of Canada cut their price target on Wix.com from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. UBS Group set a $170.00 price objective on shares of Wix.com in a research report on Monday, November 24th. Evercore ISI cut their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Citigroup decreased their price target on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, B. Riley reissued a “buy” rating and issued a $200.00 price target (down from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Wix.com has an average rating of “Moderate Buy” and an average target price of $179.81.

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.