Bank of New York Mellon Corp Purchases 11,048 Shares of Wix.com Ltd. (NASDAQ:WIX)

Bank of New York Mellon Corp increased its position in Wix.com Ltd. (NASDAQ:WIX) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,622 shares of the information services provider’s stock after purchasing an additional 11,048 shares during the period. Bank of New York Mellon Corp owned approximately 0.23% of Wix.com worth $26,738,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after buying an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Wix.com by 2.8% in 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 buying an additional 63 shares during the last quarter. Avior Wealth Management LLC lifted its stake 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 valued at $43,000 after acquiring an additional 89 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Wix.com by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock worth $3,636,000 after acquiring an additional 107 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WIX. Benchmark increased their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Bank of America increased their price target on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. 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 report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald boosted their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.00.

Wix.com Trading Down 0.2 %

Wix.com stock opened at $186.56 on Monday. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The firm has a market capitalization of $10.23 billion, a PE ratio of 79.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The firm’s 50 day simple moving average is $221.14 and its 200 day simple moving average is $196.02.

Wix.com announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to buy 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 stock is undervalued.

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.