Analyst IMS Investment Management Services Ltd. cut its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 284,094 shares of the information services provider's stock after selling 2,965 shares during the period. Wix.com makes up 2.2% of Analyst IMS Investment Management Services Ltd.'s portfolio, making the stock its 5th largest holding. Analyst IMS Investment Management Services Ltd. owned about 0.52% of Wix.com worth $60,953,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in WIX. Advisors Asset Management Inc. boosted its stake in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after purchasing an additional 130 shares during the period. Avior Wealth Management LLC grew its stake in Wix.com by 79.5% in 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. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com during the fourth quarter worth approximately $43,000. Global Retirement Partners LLC raised its stake in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wix.com in the fourth quarter worth approximately $52,000. 81.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WIX has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Scotiabank started coverage on Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. 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. Finally, Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $243.74.
Get Our Latest Stock Analysis on Wix.com
Wix.com Stock Performance
NASDAQ:WIX traded down $0.24 during mid-day trading on Friday, hitting $172.59. 952,081 shares of the company's stock traded hands, compared to its average volume of 591,081. The company has a fifty day moving average of $216.76 and a 200 day moving average of $196.05. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The company has a market capitalization of $9.46 billion, a P/E ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64.
Wix.com declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
About Wix.com
(
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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