Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Wix.Com Ltd (WIX): Steadfast Capital Management Reports New Passive Stake

Robert PittsSteadfast Capital Management is bullish on Wix.Com Ltd (NASDAQ:WIX) and has recently added the company to its equity portfolio. As a new filing with the Securities and Exchange Commission showed, Steadfast owns 2.53 million ordinary shares of, which represent 6.6% of class. The stake is passive by nature.

Wix.Com Ltd (NASDAQ:WIX) is an Israel-based web development platform. The company operates under a freemium and subscription models and has more than 900,000 premium subscribers. Its stock dropped by more than 19% since the beginning of the year, underperforming its peers from the Internet content industry, which appreciated by approximately 5% year-to-date. However since it went public in November 2013, its stock grew by 24%. The stock declined this year despite the company reporting a growth in its revenues and net profit for the last several quarters. For the July-September period, its revenue went up to around $38 million from $34 million in the previous quarter, while its net loss narrowed to $0.34 from $0.37.

Nevertheless, even though Wix.Com Ltd (NASDAQ:WIX) boasts a significant revenue growth, it hasn’t received a lot of attention from institutional investors. During the third quarter, Brian Ashford-Russell and Tim Woolley’s Polar Capital added the stock to its equity portfolio and owns around 150,200 shares as of the end of September, while Richard Driehaus’ Driehaus Capital inched down its stake by some 9,300 shares to 94,600 shares.

Analysts, on the other hand, are bullish on Wix.Com Ltd (NASDAQ:WIX)’s prospects, as the stock has a consensus rating ‘Buy’ and an average target price of around $25.00. A couple of months ago, Northland Securities initiated coverage on the stock and set an ‘Outperform’ rating, with an price target of $22.00.

Steadfast Capital Management operates an equity portfolio valued at more than $5.92 billion, spread across many sectors, with a slight focus on Basic Materials, Healthcare and Technology stocks. The largest position in the fund’s equity portfolio is represented by Allergan, Inc. (NYSE:AGN), of which the investor owns around 2.22 million shares as of the end of September. Being initiated during the second quarter, Allergan proved to be a profitable bet for Steadfast as the stock appreciated by more than 30% over the last six months on the back of a takeover attempt by Bill Ackman‘s Pershing Square and Valeant Pharmaceuticals Intl Inc (NYSE:VRX). However, Allergan has recently entered into a deal to be acquired by Actavis plc (NYSE:ACT) for $219 per share in stock and cash.

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!