Clearbridge Investments LLC cut its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,051,035 shares of the information services provider's stock after selling 150,985 shares during the period. Clearbridge Investments LLC owned approximately 1.92% of Wix.com worth $225,500,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of WIX. Advisors Asset Management Inc. raised its stake in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after buying an additional 130 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the 4th quarter valued at about $43,000. Global Retirement Partners LLC grew its stake in shares of Wix.com by 36.0% in the fourth 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 during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Wix.com during the 4th quarter valued at $52,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
Wix.com Trading Up 1.1 %
Wix.com stock traded up $1.87 during mid-day trading on Wednesday, hitting $165.87. The company had a trading volume of 549,308 shares, compared to its average volume of 621,675. The company's fifty day moving average is $201.95 and its 200-day moving average is $197.25. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 70.58, a P/E/G ratio of 2.83 and a beta of 1.65.
Wix.com declared that its Board of Directors has authorized a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. Scotiabank began coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective for the company. Finally, Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and an average price target of $243.74.
Get Our Latest Analysis on Wix.com
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.
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.
