Optimize Financial Inc bought a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,605 shares of the information services provider's stock, valued at approximately $2,275,000. Wix.com comprises approximately 1.7% of Optimize Financial Inc's holdings, making the stock its 5th largest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in Wix.com in the 4th quarter worth about $43,000. Avior Wealth Management LLC raised its holdings in shares of Wix.com by 79.5% during 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 last quarter. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. bought a new position in Wix.com during the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. boosted its holdings in Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 81.52% of the company's stock.
Wix.com Price Performance
Shares of NASDAQ:WIX traded up $2.07 during trading on Tuesday, hitting $160.81. 491,441 shares of the company's stock were exchanged, compared to its average volume of 647,234. The business's 50-day simple moving average is $183.26 and its 200 day simple moving average is $196.22. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 2.83 and a beta of 1.65. 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 approved a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts have weighed in on WIX shares. Cantor Fitzgerald boosted their target price on shares of Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. JPMorgan Chase & Co. dropped their target price 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. Piper Sandler upped their price target on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Benchmark raised their price objective on shares of Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $242.53.
Read Our Latest Stock Report on WIX
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.
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