Neuberger Berman Group LLC Sells 3,597 Shares of Wix.com Ltd. (NASDAQ:WIX)

Neuberger Berman Group LLC lowered its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,516 shares of the information services provider's stock after selling 3,597 shares during the period. Neuberger Berman Group LLC owned about 0.65% of Wix.com worth $76,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Wix.com by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider's stock valued at $6,078,000 after acquiring an additional 613 shares during the period. Quantinno Capital Management LP boosted its holdings in Wix.com by 5.2% during the third quarter. Quantinno Capital Management LP now owns 10,385 shares of the information services provider's stock valued at $1,736,000 after purchasing an additional 509 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Wix.com by 1.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider's stock valued at $2,454,000 after purchasing an additional 170 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Wix.com in the 3rd quarter worth approximately $10,523,000. Finally, Geode Capital Management LLC lifted its position in shares of Wix.com by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock worth $76,848,000 after buying an additional 14,340 shares during the period. Institutional investors own 81.52% of the company's stock.

Remove Ads

Wix.com Trading Up 2.1 %

Shares of NASDAQ:WIX traded up $3.34 during mid-day trading on Tuesday, reaching $162.08. The stock had a trading volume of 178,409 shares, compared to its average volume of 645,142. The firm has a 50 day simple moving average of $184.50 and a two-hundred day simple moving average of $196.47. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The firm has a market cap of $9.09 billion, a PE ratio of 68.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Wix.com declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

WIX has been the subject of several recent analyst reports. Benchmark increased their price objective on Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JMP Securities reiterated a "market outperform" rating and set a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. UBS Group set a $250.00 price objective on shares of Wix.com in a research note on Wednesday, March 5th. Cantor Fitzgerald raised their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $242.53.

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.