1,800 Shares in Wix.com Ltd. (NASDAQ:WIX) Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,800 shares of the information services provider's stock, valued at approximately $386,000.

A number of other large investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Wix.com by 60.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider's stock worth $5,081,000 after acquiring an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Wix.com during the fourth quarter valued at approximately $256,000. XTX Topco Ltd boosted its stake in Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider's stock valued at $1,488,000 after acquiring an additional 6,919 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Wix.com in the third quarter worth $890,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Wix.com by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider's stock valued at $26,738,000 after purchasing an additional 11,048 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Performance

Wix.com stock traded down $7.52 during mid-day trading on Friday, reaching $166.36. 734,495 shares of the company were exchanged, compared to its average volume of 619,317. The firm has a market cap of $9.33 billion, a PE ratio of 70.79, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The firm's 50-day simple moving average is $204.99 and its two-hundred day simple moving average is $196.82. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11.

Remove Ads

Wix.com announced that its board has approved a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WIX shares. Royal Bank of Canada restated an "outperform" rating and set a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. Morgan Stanley raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Benchmark upped their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Cantor Fitzgerald upped their target price on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, Citigroup lifted their price target on Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. One investment 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.74.

About Wix.com

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.