Counterpoint Mutual Funds LLC boosted its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 119.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,348 shares of the information services provider's stock after acquiring an additional 3,452 shares during the period. Counterpoint Mutual Funds LLC's holdings in Wix.com were worth $1,362,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its position in shares of Wix.com by 9.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after purchasing an additional 55 shares during the period. Blue Trust Inc. raised its holdings in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after acquiring an additional 56 shares during the period. Global Retirement Partners LLC lifted its position in shares of Wix.com by 36.0% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wix.com by 2.8% in the fourth 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 grew its position in shares of Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after purchasing an additional 63 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WIX has been the subject of several analyst reports. JMP Securities restated a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Scotiabank started coverage on shares of Wix.com in a research report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Wix.com from $194.00 to $169.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. 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. Finally, Citigroup upped their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $243.74.
View Our Latest Stock Report on Wix.com
Wix.com Stock Performance
WIX stock traded up $3.20 during trading on Friday, hitting $172.33. 1,017,169 shares of the company traded hands, compared to its average volume of 597,630. The company has a 50-day moving average of $212.52 and a 200-day moving average of $196.02. The firm has a market capitalization of $9.45 billion, a PE ratio of 73.33, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.
Wix.com declared that its board has initiated a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to buy 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.
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.
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