Avory & Company LLC lessened its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,975 shares of the information services provider's stock after selling 3,590 shares during the quarter. Wix.com makes up 4.9% of Avory & Company LLC's portfolio, making the stock its 7th biggest position. Avory & Company LLC owned 0.07% of Wix.com worth $8,791,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the fourth quarter worth $43,000. Avior Wealth Management LLC grew its position in shares of 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 buying an additional 89 shares during the period. Global Retirement Partners LLC increased its stake in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Wix.com during the 4th quarter valued at about $52,000. Finally, Advisors Asset Management Inc. lifted its position in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock valued at $41,000 after acquiring an additional 130 shares during the period. 81.52% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on WIX. Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $248.00 to $276.00 in a report on Monday, January 13th. B. Riley boosted their target price on Wix.com from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on shares of Wix.com from $175.00 to $215.00 and gave the stock 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, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.74.
Read Our Latest Report on WIX
Wix.com Price Performance
Shares of WIX stock traded down $16.16 on Monday, hitting $170.40. 1,196,521 shares of the stock traded hands, compared to its average volume of 585,340. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 72.51, a PEG ratio of 2.83 and a beta of 1.64. The firm has a 50 day simple moving average of $221.14 and a two-hundred day simple moving average of $196.02. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11.
Wix.com declared that its Board of Directors has approved a stock 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 purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are 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.
Featured Articles
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
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
