Cumberland Partners Ltd Cuts Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd cut its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,500 shares of the information services provider's stock after selling 2,500 shares during the period. Cumberland Partners Ltd's holdings in Wix.com were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of WIX. Blue Trust Inc. raised its stake in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. raised 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 worth $41,000 after buying an additional 130 shares during the last quarter. Avior Wealth Management LLC raised its position in Wix.com by 79.5% during 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 last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com in the 4th quarter valued at $43,000. Finally, Global Retirement Partners LLC increased 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. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Trading Down 2.7 %

NASDAQ WIX traded down $5.46 on Friday, reaching $198.19. 616,321 shares of the company were exchanged, compared to its average volume of 841,903. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The stock has a market capitalization of $10.86 billion, a P/E ratio of 84.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.58. The business's fifty day moving average price is $226.63 and its 200 day moving average price is $192.98.

Analyst Upgrades and Downgrades

WIX has been the topic of several analyst reports. Bank of America increased their price target on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup raised their price target on shares of Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a research note on Saturday, November 23rd. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $245.83.

Wix.com Company Profile

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.