Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 31.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,512 shares of the information services provider's stock after acquiring an additional 7,774 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Wix.com worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of WIX. Cullen Frost Bankers Inc. raised its holdings in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after buying an additional 55 shares during the period. Blue Trust Inc. increased its holdings 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 purchasing an additional 56 shares during the period. Global Retirement Partners LLC lifted its position in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after purchasing an additional 63 shares during the period. Finally, Avior Wealth Management LLC grew its position 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 valued at $43,000 after purchasing an additional 89 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
WIX has been the subject of a number of research reports. B. Riley lifted their target price on shares of Wix.com from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Wix.com from $175.00 to $215.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Finally, UBS Group set a $250.00 price target on shares of Wix.com in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and an average price target of $243.74.
Read Our Latest Analysis on Wix.com
Wix.com Price Performance
Shares of NASDAQ:WIX opened at $172.83 on Friday. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The business's fifty day moving average price is $217.76 and its two-hundred day moving average price is $195.81. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 73.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.
Wix.com announced that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board 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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