Federated Hermes Inc. Makes New $18.45 Million Investment in Wix.com Ltd. (NASDAQ:WIX)

Federated Hermes Inc. purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,986 shares of the information services provider's stock, valued at approximately $18,448,000. Federated Hermes Inc. owned approximately 0.16% of Wix.com as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in 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 acquiring an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com during the 4th quarter valued at about $43,000. Global Retirement Partners LLC grew its position 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 during the period. SBI Securities Co. Ltd. bought a new stake in Wix.com during the 4th quarter worth approximately $52,000. Finally, 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 worth $54,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Trading Up 2.1 %

WIX stock traded up $3.27 during mid-day trading on Monday, hitting $161.77. 61,660 shares of the company were exchanged, compared to its average volume of 645,572. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The business has a 50 day simple moving average of $185.82 and a 200-day simple moving average of $196.54. The stock has a market capitalization of $9.08 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Remove Ads

Wix.com declared that its Board of Directors has approved 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 purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Cantor Fitzgerald upped their price objective on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler upped their price target on Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Benchmark lifted their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com has a consensus rating of "Moderate Buy" and a consensus price target of $242.53.

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.