Wells Fargo & Company MN Has $8.02 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Wells Fargo & Company MN decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,387 shares of the information services provider's stock after selling 2,704 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Wix.com worth $8,021,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com in the 4th quarter worth approximately $256,000. Bank of New York Mellon Corp lifted its position in Wix.com by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider's stock worth $26,738,000 after purchasing an additional 11,048 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider's stock valued at $22,603,000 after purchasing an additional 5,286 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Wix.com during the 4th quarter valued at $321,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Wix.com by 159.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 22,596 shares of the information services provider's stock worth $4,848,000 after buying an additional 13,894 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Wix.com Trading Up 4.7 %

Wix.com stock traded up $7.23 during trading hours on Wednesday, reaching $161.84. 238,745 shares of the company were exchanged, compared to its average volume of 651,672. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 68.87, a PEG ratio of 2.83 and a beta of 1.65. The stock has a 50-day moving average of $176.32 and a 200 day moving average of $196.09.

Wix.com declared that its Board of Directors has approved a share repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on WIX shares. Cantor Fitzgerald raised their target price on Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Barclays lifted their price objective on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Wells Fargo & Company upgraded shares of Wix.com from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $169.00 to $176.00 in a report on Tuesday, April 8th. Bank of America raised their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Wix.com currently has a consensus rating of "Moderate Buy" and an average target price of $238.89.

Wix.com Profile

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.