Geode Capital Management LLC raised its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 481,535 shares of the information services provider's stock after acquiring an additional 19,633 shares during the period. Geode Capital Management LLC owned approximately 0.88% of Wix.com worth $102,926,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC raised its position 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 acquiring an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the fourth quarter valued at about $43,000. Global Retirement Partners LLC boosted its holdings in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Wix.com during the fourth quarter worth about $52,000. Finally, Blue Trust Inc. increased its holdings in 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 buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on WIX shares. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Barclays upped their target price on Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. Piper Sandler increased their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC restated a "buy" rating and set a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Wix.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.53.
Check Out Our Latest Analysis on Wix.com
Wix.com Trading Up 2.4 %
Shares of WIX traded up $3.75 during mid-day trading on Tuesday, reaching $162.49. The company had a trading volume of 83,430 shares, compared to its average volume of 644,758. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The firm has a fifty day simple moving average of $184.50 and a 200-day simple moving average of $196.47. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth 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 permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
About Wix.com
(
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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