Sei Investments Co. increased its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,259 shares of the information services provider's stock after acquiring an additional 1,886 shares during the period. Sei Investments Co. owned approximately 0.39% of Wix.com worth $46,184,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in WIX. Advisors Asset Management Inc. boosted its holdings in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after buying an additional 130 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of 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. purchased a new position in shares of Wix.com during the 4th quarter worth about $43,000. Global Retirement Partners LLC raised its position in shares of Wix.com by 36.0% in 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 during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 81.52% of the company's stock.
Analysts Set New Price Targets
WIX has been the subject of several research analyst reports. Piper Sandler increased their target price on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Bank of America upped their price target on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Wix.com currently has a consensus rating of "Moderate Buy" and an average target price of $243.74.
Check Out Our Latest Stock Report on WIX
Wix.com Price Performance
Shares of NASDAQ:WIX traded down $7.52 during 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 capitalization of $9.33 billion, a PE ratio of 70.79, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The business's fifty day simple moving average is $206.48 and its 200-day simple moving average is $196.46.
Wix.com declared that its Board of Directors has authorized a stock buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.
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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