Phoenix Financial Ltd. Sells 19,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Phoenix Financial Ltd. lessened its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,988 shares of the information services provider's stock after selling 19,000 shares during the period. Phoenix Financial Ltd. owned about 0.19% of Wix.com worth $22,525,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Wix.com by 9.7% during the fourth quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock worth $188,000 after buying an additional 77 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Wix.com during the 4th quarter valued at about $696,000. Raymond James Financial Inc. bought a new stake in Wix.com in the fourth quarter valued at about $8,066,000. Advisory Services Network LLC acquired a new position in Wix.com in the fourth quarter worth about $550,000. Finally, Abacus FCF Advisors LLC acquired a new position in Wix.com in the fourth quarter worth about $692,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Price Performance

Shares of NASDAQ WIX traded up $3.69 during mid-day trading on Tuesday, hitting $162.43. The company's stock had a trading volume of 159,389 shares, compared to its average volume of 645,056. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company's fifty day simple moving average is $184.50 and its 200-day simple moving average is $196.47. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 69.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

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Wix.com declared that its board has authorized a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WIX shares. JMP Securities reiterated a "market outperform" rating and issued a $240.00 price objective on shares of Wix.com in a research note on Tuesday, February 18th. Scotiabank assumed coverage on Wix.com in a research report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price target on the stock. Jefferies Financial Group dropped their price objective on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. UBS Group set a $250.00 target price on shares of Wix.com in a research note on Wednesday, March 5th. Finally, Benchmark increased their target price on shares of Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.53.

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.