Trexquant Investment LP reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,817 shares of the information services provider's stock after selling 13,723 shares during the quarter. Trexquant Investment LP owned about 0.19% of Wix.com worth $21,845,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in WIX. Avior Wealth Management LLC lifted its holdings 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 during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC boosted its position in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wix.com during the fourth quarter worth $52,000. Finally, Blue Trust Inc. lifted its stake 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 valued at $54,000 after acquiring an additional 56 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wix.com Stock Up 1.1 %
NASDAQ WIX traded up $1.87 on Wednesday, reaching $165.87. The company had a trading volume of 549,308 shares, compared to its average volume of 622,893. The company's fifty day moving average is $200.57 and its 200 day moving average is $197.03. The stock has a market capitalization of $9.31 billion, a P/E ratio of 70.58, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11.
Wix.com declared that its Board of Directors has authorized a share buyback program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded Wix.com from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Cantor Fitzgerald raised their price objective on shares of Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. StockNews.com upgraded Wix.com from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company dropped their price target on shares of Wix.com from $194.00 to $169.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.74.
View Our Latest Report on Wix.com
About Wix.com
(
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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