Swiss National Bank lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,900 shares of the information services provider's stock after selling 11,900 shares during the period. Swiss National Bank owned 0.27% of Wix.com worth $31,303,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in shares of Wix.com by 112.1% during the 3rd 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 during the period. Avior Wealth Management LLC lifted its stake in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the 4th quarter valued at $43,000. Global Retirement Partners LLC raised its holdings in shares of Wix.com by 36.0% during the 4th 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 in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Wix.com during the 4th quarter worth $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on the company. Royal Bank of Canada reissued an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, March 14th. Bank of America raised their target price on shares of Wix.com from $228.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald boosted their price objective on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.74.
View Our Latest Report on WIX
Wix.com Price Performance
Shares of Wix.com stock traded up $3.20 on Friday, hitting $172.33. 1,017,169 shares of the company's stock traded hands, compared to its average volume of 597,630. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 73.33, a price-to-earnings-growth 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. The company has a fifty day moving average of $212.52 and a two-hundred day moving average of $196.02.
Wix.com declared that its board has authorized a stock buyback 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 reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is 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.
Further Reading
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
