Raymond James Financial Inc. purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its holdings in shares of Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. raised its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. Global Retirement Partners LLC raised its stake in Wix.com by 36.0% in the 4th 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock valued at $502,000 after purchasing an additional 63 shares in the last quarter. Finally, Vestcor Inc boosted its stake in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after purchasing an additional 63 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on WIX shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Barclays increased their price target on Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Bank of America boosted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $238.89.
Check Out Our Latest Research Report on Wix.com
Wix.com Price Performance
Shares of Wix.com stock opened at $154.61 on Wednesday. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 65.79, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The business has a 50-day moving average of $176.32 and a 200 day moving average of $196.09. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.
Wix.com announced that its Board of Directors has authorized a stock repurchase program 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 purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.
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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Want to see what other hedge funds are holding WIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wix.com Ltd. (NASDAQ:WIX - Free Report).
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