Marietta Investment Partners LLC bought a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,830 shares of the information services provider's stock, valued at approximately $1,251,000.
A number of other institutional investors have also made changes to their positions in WIX. SG Americas Securities LLC increased its position in Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Captrust Financial Advisors lifted its holdings in Wix.com by 545.7% in the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider's stock worth $39,864,000 after purchasing an additional 201,532 shares during the period. Whale Rock Capital Management LLC grew its position in Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider's stock valued at $115,475,000 after buying an additional 165,810 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Wix.com by 90.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider's stock valued at $39,859,000 after buying an additional 87,327 shares during the period. Finally, Polar Asset Management Partners Inc. raised its position in shares of Wix.com by 192.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider's stock worth $16,466,000 after buying an additional 64,869 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on WIX. Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Raymond James raised 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. Cantor Fitzgerald boosted their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com presently has a consensus rating of "Moderate Buy" and an average target price of $243.74.
Read Our Latest Stock Analysis on Wix.com
Wix.com Trading Down 2.7 %
NASDAQ:WIX traded down $4.68 during mid-day trading on Wednesday, hitting $168.63. 472,669 shares of the company's stock traded hands, compared to its average volume of 600,884. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 71.76, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The firm has a 50 day moving average of $209.30 and a two-hundred day moving average of $196.81.
Wix.com announced that its Board of Directors has approved a share buyback program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign 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.
See Also
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
