Loomis Sayles & Co. L P Sells 5,678 Shares of Wix.com Ltd. (NASDAQ:WIX)

Loomis Sayles & Co. L P lessened its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,068 shares of the information services provider's stock after selling 5,678 shares during the period. Loomis Sayles & Co. L P owned 0.33% of Wix.com worth $39,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WIX. Korea Investment CORP increased its holdings in Wix.com by 0.5% during the 4th quarter. Korea Investment CORP now owns 20,528 shares of the information services provider's stock valued at $4,404,000 after purchasing an additional 100 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Wix.com in the 4th quarter worth approximately $386,000. LPL Financial LLC increased its stake in shares of Wix.com by 24.4% during the fourth quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock valued at $1,561,000 after buying an additional 1,429 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Wix.com during the fourth quarter valued at approximately $4,119,000. Finally, Marietta Investment Partners LLC purchased a new stake in Wix.com in the fourth quarter worth $1,251,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Trading Up 0.1 %

WIX stock traded up $0.11 during midday trading on Tuesday, hitting $163.49. The company's stock had a trading volume of 262,623 shares, compared to its average volume of 619,173. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm's 50-day moving average is $203.44 and its 200-day moving average is $197.20. The company has a market cap of $9.17 billion, a PE ratio of 69.37, a P/E/G ratio of 2.83 and a beta of 1.64.

Remove Ads

Wix.com declared that its board has initiated a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Citigroup raised their price objective on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Barclays lifted their price objective on Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Finally, 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 note on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of "Moderate Buy" and a consensus price target of $243.74.

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.