Vanguard Group Inc. lessened its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 226,846 shares of the information services provider's stock after selling 19,355 shares during the quarter. Vanguard Group Inc. owned approximately 0.41% of Wix.com worth $48,670,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after buying an additional 400,265 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Wix.com by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider's stock valued at $39,859,000 after acquiring an additional 87,327 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Wix.com during the fourth quarter worth about $11,508,000. Mutual of America Capital Management LLC acquired a new stake in shares of Wix.com during the fourth quarter worth about $8,229,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Wix.com in the 4th quarter valued at about $8,066,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wix.com Price Performance
Shares of NASDAQ WIX traded up $2.07 during trading on Tuesday, hitting $160.81. 491,441 shares of the company were exchanged, compared to its average volume of 646,340. The firm's fifty day moving average price is $184.50 and its 200 day moving average price is $196.47. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.
Wix.com declared that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on WIX. UBS Group set a $250.00 price target on Wix.com in a research note on Wednesday, March 5th. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Citigroup upped their price target on shares of Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Needham & Company LLC restated a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.53.
View Our Latest Stock Report on WIX
Wix.com Company Profile
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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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