First Trust Advisors LP reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,941 shares of the information services provider's stock after selling 9,457 shares during the quarter. First Trust Advisors LP owned 0.45% of Wix.com worth $53,410,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of WIX. Avior Wealth Management LLC boosted its stake in Wix.com by 79.5% in 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 in 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. Global Retirement Partners LLC grew its holdings in shares of Wix.com by 36.0% during 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 last quarter. SBI Securities Co. Ltd. bought a new stake in Wix.com in the fourth quarter worth $52,000. Finally, Blue Trust Inc. boosted its position in Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after buying an additional 56 shares during the period. 81.52% of the stock is currently owned by institutional investors.
Wix.com Stock Up 0.7 %
WIX stock traded up $1.20 during mid-day trading on Friday, hitting $166.43. The company had a trading volume of 338,157 shares, compared to its average volume of 655,687. The company has a 50-day moving average price of $173.85 and a 200 day moving average price of $195.88. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 70.82, a P/E/G ratio of 2.83 and a beta of 1.65.
Wix.com announced that its board has initiated a share buyback plan 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 reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
WIX has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Citigroup decreased their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research note on Friday. Morgan Stanley decreased their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Scotiabank initiated coverage on Wix.com in a research note on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $169.00 to $176.00 in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.68.
Read Our Latest Stock Analysis on Wix.com
Wix.com Profile
(
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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