Pictet Asset Management Holding SA grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 71.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,869 shares of the information services provider's stock after acquiring an additional 21,583 shares during the quarter. Pictet Asset Management Holding SA owned 0.09% of Wix.com worth $11,128,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its position in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after buying an additional 89 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com in the 4th quarter valued at $43,000. Global Retirement Partners LLC raised its stake 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 worth $47,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Wix.com during the fourth quarter valued at $52,000. Finally, Blue Trust Inc. raised its position in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 81.52% of the company's stock.
Wix.com Stock Performance
WIX traded down $5.93 on Friday, hitting $150.01. 1,297,473 shares of the company were exchanged, compared to its average volume of 629,982. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a fifty day simple moving average of $197.26 and a two-hundred day simple moving average of $196.70. The stock has a market capitalization of $8.42 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.
Wix.com declared that its board has initiated a stock buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Jefferies Financial Group increased their target price on Wix.com from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Bank of America upped their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Finally, Scotiabank began coverage on shares of Wix.com in a research note on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and an average target price of $243.74.
Check Out Our Latest Report on Wix.com
Wix.com 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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