Fox Run Management L.L.C. cut its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 89.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 948 shares of the information services provider's stock after selling 7,797 shares during the period. Fox Run Management L.L.C.'s holdings in Wix.com were worth $203,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of 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 acquiring an additional 130 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Wix.com by 79.5% during the 4th 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 in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the 4th quarter worth about $43,000. Global Retirement Partners LLC boosted its stake in 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 purchasing an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Wix.com during the 4th quarter valued at about $52,000. 81.52% of the stock is owned by institutional investors.
Wix.com Stock Up 1.1 %
Shares of WIX traded up $1.87 during trading hours on Wednesday, hitting $165.87. The company had a trading volume of 549,308 shares, compared to its average volume of 622,894. The firm has a market cap 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. The stock's 50 day moving average price is $200.57 and its 200 day moving average price is $197.03.
Wix.com declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on WIX shares. UBS Group set a $250.00 price target on shares of Wix.com in a report on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Bank of America increased their price objective on Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group upped their target price on Wix.com from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. One 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.74.
Get Our Latest Analysis on WIX
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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