Proficio Capital Partners LLC acquired a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,638 shares of the information services provider's stock, valued at approximately $11,508,000. Proficio Capital Partners LLC owned approximately 0.10% of Wix.com as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Wix.com by 1.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,067 shares of the information services provider's stock worth $16,728,000 after purchasing an additional 1,161 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Wix.com during the third quarter valued at approximately $461,000. Metis Global Partners LLC bought a new position in shares of Wix.com during the third quarter valued at approximately $200,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Wix.com in the 3rd quarter worth about $359,000. Finally, CIBC Asset Management Inc lifted its holdings in Wix.com by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,973 shares of the information services provider's stock valued at $831,000 after buying an additional 170 shares in the last quarter. 81.52% of the stock is owned by institutional investors.
Wix.com Stock Up 2.4 %
WIX traded up $4.11 on Wednesday, hitting $172.22. 774,482 shares of the company traded hands, compared to its average volume of 595,091. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The company has a 50 day moving average of $214.67 and a 200-day moving average of $196.37. The stock has a market capitalization of $9.44 billion, a PE ratio of 73.28, a PEG ratio of 2.83 and a beta of 1.64.
Wix.com announced that its Board of Directors has approved a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
WIX has been the topic of a number of research reports. Scotiabank initiated coverage on shares of Wix.com in a research report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price on the stock. Bank of America upped their target price on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. Needham & Company LLC reiterated a "buy" rating and issued a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. Finally, Cantor Fitzgerald lifted their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and a consensus target price of $243.74.
Read Our Latest Report on Wix.com
Wix.com Company Profile
(
Free Report)
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.
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