Crescent Park Management L.P. Sells 4,314 Shares of Wix.com Ltd. (NASDAQ:WIX)

Crescent Park Management L.P. decreased its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,891 shares of the information services provider's stock after selling 4,314 shares during the quarter. Wix.com comprises about 6.1% of Crescent Park Management L.P.'s holdings, making the stock its 5th largest position. Crescent Park Management L.P. owned 0.13% of Wix.com worth $15,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WIX. Cullen Frost Bankers Inc. boosted its stake in 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 buying an additional 55 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC lifted 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 valued at $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 purchasing an additional 63 shares during the period. Finally, Vestcor Inc increased its position in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $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.

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Analyst Ratings Changes

Several research firms have issued reports on WIX. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Citigroup upped their target price on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Jefferies Financial Group raised their target price on Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, January 6th. Cantor Fitzgerald upped their price target on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $235.00 price objective on shares of Wix.com in a research note on Wednesday, February 19th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $243.74.

Wix.com Price Performance

Shares of WIX stock traded down $5.93 during trading hours on Friday, reaching $150.01. The stock had a trading volume of 1,297,473 shares, compared to its average volume of 629,982. The firm has a 50-day simple moving average of $197.26 and a 200-day simple moving average of $196.70. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The firm has a market capitalization of $8.42 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Wix.com declared that its board has initiated a stock repurchase 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 repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

About Wix.com

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.