Jump Financial LLC Sells 16,778 Shares of Wix.com Ltd. (NASDAQ:WIX)

Jump Financial LLC lessened its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 45.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,007 shares of the information services provider's stock after selling 16,778 shares during the period. Jump Financial LLC's holdings in Wix.com were worth $4,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Avior Wealth Management LLC raised its position in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Wix.com in the 4th quarter valued at about $43,000. Global Retirement Partners LLC raised its holdings in 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 acquiring an additional 58 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Wix.com during the fourth quarter worth approximately $52,000. Finally, Blue Trust Inc. boosted its holdings in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Analyst Ratings Changes

WIX has been the subject of several research reports. Jefferies Financial Group dropped their price target on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 7th. Citigroup lifted their target price on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Benchmark upped their price target on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, Piper Sandler boosted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $238.89.

Wix.com Price Performance

WIX stock opened at $161.05 on Thursday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 68.53, a P/E/G ratio of 2.83 and a beta of 1.65. The company has a 50 day simple moving average of $182.07 and a 200 day simple moving average of $195.98.

Wix.com announced that its board has authorized a stock buyback plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding 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 generally 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.

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