Wix.com Target of Unusually Large Options Trading (NASDAQ:WIX)

Wix.com Ltd. (NASDAQ:WIX) was the target of unusually large options trading on Wednesday. Stock investors purchased 4,497 call options on the company. This is an increase of 234% compared to the typical volume of 1,348 call options.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently made changes to their positions in WIX. Dorsal Capital Management LP lifted its stake in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Wix.com by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after purchasing an additional 33,338 shares during the last quarter. Senvest Management LLC grew its holdings in Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings 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. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Benchmark raised their price objective on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Wednesday. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. StockNews.com lowered Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, KeyCorp initiated coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.38.

Wix.com Price Performance

Shares of WIX opened at $210.27 on Thursday. The firm has a 50 day simple moving average of $167.07 and a two-hundred day simple moving average of $161.41. The company has a market cap of $11.53 billion, a P/E ratio of 166.88, a P/E/G ratio of 3.84 and a beta of 1.47. Wix.com has a one year low of $95.65 and a one year high of $213.86.

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.