Analyst IMS Investment Management Services Ltd. lessened its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 biggest position. Analyst IMS Investment Management Services Ltd. owned approximately 0.52% of Wix.com worth $60,953,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Entropy Technologies LP grew its holdings in shares of Wix.com by 19.2% during the third quarter. Entropy Technologies LP now owns 4,959 shares of the information services provider's stock worth $829,000 after buying an additional 800 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew 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 acquiring an additional 1,161 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Wix.com in the third quarter valued at approximately $289,000. Oppenheimer & Co. Inc. acquired a new position in Wix.com during the third quarter worth $461,000. Finally, Plato Investment Management Ltd bought a new position in Wix.com in the third quarter valued at $782,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wix.com Price Performance
Shares of WIX traded up $2.73 during trading hours on Monday, hitting $175.32. The company's stock had a trading volume of 306,071 shares, compared to its average volume of 589,980. The business has a 50 day simple moving average of $216.76 and a two-hundred day simple moving average of $196.28. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 74.87, a PEG ratio of 2.83 and a beta of 1.64.
Wix.com declared that its board has approved a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
WIX has been the topic of several analyst reports. 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. Piper Sandler raised their target price on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Robert W. Baird upped their target price on shares of Wix.com from $175.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.74.
Check Out Our Latest Analysis on WIX
Wix.com 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.
Further Reading
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
