Pettee Investors Inc. grew its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,455 shares of the information services provider's stock after acquiring an additional 1,700 shares during the period. Pettee Investors Inc.'s holdings in Wix.com were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Wix.com in the fourth quarter worth $43,000. Avior Wealth Management LLC grew its stake 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 worth $43,000 after acquiring an additional 89 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wix.com in the fourth quarter worth $52,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.
Wix.com Price Performance
Shares of NASDAQ:WIX traded down $0.87 on Wednesday, reaching $175.00. The company's stock had a trading volume of 998,202 shares, compared to its average volume of 590,758. The stock's 50-day moving average is $218.64 and its two-hundred day moving average is $195.97. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11. The stock has a market capitalization of $9.59 billion, a P/E ratio of 74.47, a PEG ratio of 2.83 and a beta of 1.64.
Wix.com announced that its Board of Directors has approved a share repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
Several research firms have recently issued reports on WIX. JPMorgan Chase & Co. decreased 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 report on Wednesday, February 19th. Scotiabank began coverage on shares of Wix.com in a research report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective for the company. Benchmark lifted their price objective on shares of Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Bank of America lifted their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Piper Sandler lifted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Wix.com has a consensus rating of "Moderate Buy" and a consensus price target of $243.74.
View Our Latest Report on WIX
Wix.com Company Profile
(
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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