Abacus FCF Advisors LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,226 shares of the information services provider's stock, valued at approximately $692,000.
Several other large investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com during the fourth quarter valued at about $43,000. Avior Wealth Management LLC raised its holdings in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Wix.com in the fourth quarter worth $52,000. Finally, Blue Trust Inc. raised its stake in Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
WIX has been the subject of a number of analyst reports. Cantor Fitzgerald increased their price target on shares of Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $242.53.
Check Out Our Latest Analysis on WIX
Wix.com Stock Performance
Shares of WIX traded up $0.26 during trading hours on Monday, hitting $158.76. The stock had a trading volume of 96,663 shares, compared to its average volume of 645,716. The firm has a 50-day moving average price of $185.82 and a 200 day moving average price of $196.54. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 67.56, a PEG ratio of 2.83 and a beta of 1.65.
Wix.com declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
Wix.com Profile
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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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