CenterBook Partners LP purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,243 shares of the information services provider's stock, valued at approximately $696,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after acquiring an additional 55 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares during the last quarter. Global Retirement Partners LLC boosted its stake in 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 acquiring an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after acquiring an additional 63 shares during the period. Finally, Vestcor Inc raised its position in shares of Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 81.52% of the company's stock.
Wix.com Stock Up 1.3 %
WIX traded up $2.07 during trading hours on Tuesday, hitting $160.81. 491,441 shares of the company's stock were exchanged, compared to its average volume of 647,234. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The stock's 50-day moving average is $184.50 and its two-hundred day moving average is $196.47.
Wix.com declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Morgan Stanley upgraded Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Jefferies Financial Group lowered their price target 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. Bank of America lifted their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upgraded shares of Wix.com from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $169.00 to $176.00 in a report on Tuesday, April 8th. Finally, Benchmark upped their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $242.53.
Get Our Latest Analysis on Wix.com
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.
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