Global Retirement Partners LLC Grows Stake in Wix.com Ltd. (NASDAQ:WIX)

Global Retirement Partners LLC increased its position in Wix.com Ltd. (NASDAQ:WIX) by 36.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219 shares of the information services provider’s stock after acquiring an additional 58 shares during the period. Global Retirement Partners LLC’s holdings in Wix.com were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after buying an additional 56 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after acquiring an additional 63 shares during the period. Avior Wealth Management LLC increased its stake in shares of Wix.com by 79.5% in 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. Van ECK Associates Corp raised its holdings in Wix.com by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock worth $3,636,000 after purchasing an additional 107 shares during the period. Finally, Advisors Asset Management Inc. lifted its position 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 valued at $41,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Down 0.7 %

Shares of WIX stock opened at $200.69 on Friday. The stock’s 50-day moving average price is $224.48 and its 200-day moving average price is $194.73. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 85.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58.

Wix.com announced that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on WIX. JMP Securities restated a “market outperform” rating and issued a $240.00 price target on shares of Wix.com in a research report on Tuesday, February 18th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Cantor Fitzgerald raised their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.