Wix.com Ltd. (NASDAQ:WIX) Stock Holdings Lowered by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Wix.com Ltd. (NASDAQ:WIX) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,076 shares of the information services provider’s stock after selling 147 shares during the quarter. Rhumbline Advisers’ holdings in Wix.com were worth $3,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WIX. Blue Trust Inc. raised its position in shares of Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after buying an additional 98 shares in the last quarter. Advisors Asset Management Inc. increased its stake 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 valued at $41,000 after acquiring an additional 130 shares during the period. Avior Wealth Management LLC raised its holdings 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 worth $43,000 after purchasing an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com in the fourth quarter worth approximately $43,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Wix.com by 113.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 139 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Down 0.7 %

Shares of NASDAQ WIX opened at $200.69 on Friday. The business has a 50-day moving average price of $224.89 and a two-hundred day moving average price of $194.44. The firm has a market capitalization of $11.00 billion, a PE ratio of 85.40, a PEG ratio of 2.83 and a beta of 1.58. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11.

Wix.com announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

WIX has been the topic of a number of research reports. UBS Group boosted their price objective on Wix.com from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. B. Riley boosted their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their price objective on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler boosted their target price on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.83.

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.