Inceptionr LLC Buys 4,188 Shares of Wix.com Ltd. (NASDAQ:WIX)

Inceptionr LLC lifted its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 232.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,993 shares of the information services provider's stock after purchasing an additional 4,188 shares during the period. Inceptionr LLC's holdings in Wix.com were worth $1,286,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after acquiring an additional 55 shares during the period. 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. Global Retirement Partners LLC lifted 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 buying an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after acquiring an additional 63 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of 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 purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

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Analysts Set New Price Targets

WIX has been the topic of a number of recent analyst reports. Evercore ISI raised Wix.com to a "strong-buy" rating in a report on Thursday, November 21st. Barclays increased their price objective on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Piper Sandler boosted their target price on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and a consensus target price of $243.74.

Wix.com Price Performance

WIX stock traded down $16.16 during midday trading on Monday, hitting $170.40. The stock had a trading volume of 1,196,521 shares, compared to its average volume of 585,340. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 72.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The business has a 50-day moving average of $221.14 and a two-hundred day moving average of $196.02. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11.

Wix.com declared that its board has authorized 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 reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.