APG Asset Management US Inc. trimmed its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 79.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,664 shares of the information services provider's stock after selling 6,377 shares during the quarter. APG Asset Management US Inc.'s holdings in Wix.com were worth $357,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after buying an additional 1,266,202 shares during the last quarter. Renaissance Technologies LLC lifted its position in Wix.com by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock valued at $201,151,000 after acquiring an additional 162,400 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Wix.com by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock worth $102,926,000 after purchasing an additional 19,633 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Wix.com by 4.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock worth $67,377,000 after buying an additional 12,531 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
Wix.com Trading Up 1.9 %
Shares of NASDAQ:WIX traded up $3.09 during trading on Tuesday, hitting $161.83. 132,053 shares of the stock were exchanged, compared to its average volume of 645,007. The company has a market cap of $9.08 billion, a PE ratio of 68.86, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The company has a fifty day moving average price of $184.50 and a two-hundred day moving average price of $196.47.
Wix.com declared that its Board of Directors has authorized a share buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on WIX. Jefferies Financial Group reduced their price objective on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company upgraded shares of Wix.com from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. UBS Group set a $250.00 price objective on shares of Wix.com in a research report on Wednesday, March 5th. Piper Sandler lifted their price objective 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. Finally, Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $242.53.
View Our Latest Stock Report on WIX
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.
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
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
