37,596 Shares in Wix.com Ltd. (NASDAQ:WIX) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,596 shares of the information services provider's stock, valued at approximately $8,066,000. Raymond James Financial Inc. owned about 0.07% of Wix.com as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of WIX. Cullen Frost Bankers Inc. grew its stake in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after buying an additional 55 shares in the last quarter. Aigen Investment Management LP purchased a new position in Wix.com in the fourth quarter worth about $664,000. Proficio Capital Partners LLC purchased a new position in Wix.com in the fourth quarter worth about $11,508,000. M&T Bank Corp bought a new stake in Wix.com during the fourth quarter worth approximately $643,000. Finally, Keybank National Association OH purchased a new stake in Wix.com during the fourth quarter valued at approximately $204,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WIX has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. JMP Securities reiterated a "market outperform" rating and set a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. Scotiabank initiated coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 target price for the company. UBS Group set a $250.00 price target on shares of Wix.com in a report on Wednesday, March 5th. Finally, Citigroup raised their price objective on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.74.

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Wix.com Stock Down 2.7 %

Shares of NASDAQ WIX traded down $4.68 during midday trading on Wednesday, reaching $168.63. 471,091 shares of the company's stock traded hands, compared to its average volume of 599,662. The stock's 50 day simple moving average is $209.30 and its 200-day simple moving average is $196.81. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 71.76, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11.

Wix.com announced that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.