DnB Asset Management AS Buys 1,751 Shares of Wix.com Ltd. (NASDAQ:WIX)

DnB Asset Management AS increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,399 shares of the information services provider's stock after purchasing an additional 1,751 shares during the quarter. DnB Asset Management AS's holdings in Wix.com were worth $2,017,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its position in shares of Wix.com by 79.5% during the fourth 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 period. Newbridge Financial Services Group Inc. bought a new stake in Wix.com in the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC boosted its position in Wix.com by 36.0% during the 4th 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 last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wix.com during the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. raised its holdings in shares of Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

WIX has been the subject of several recent research reports. Citigroup increased their target price 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. UBS Group set a $250.00 price objective on Wix.com in a report on Wednesday, March 5th. Scotiabank initiated coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price on the stock. JMP Securities restated a "market outperform" rating and issued a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. Finally, Morgan Stanley upgraded Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $243.74.

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Wix.com Price Performance

NASDAQ WIX traded down $9.93 on Thursday, reaching $155.94. The stock had a trading volume of 976,017 shares, compared to its average volume of 625,914. The company has a market cap of $8.75 billion, a P/E ratio of 66.36, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The firm has a fifty day moving average of $200.57 and a two-hundred day moving average of $197.03. 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 of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wix.com 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.