53,638 Shares in Wix.com Ltd. (NASDAQ:WIX) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,638 shares of the information services provider’s stock, valued at approximately $11,508,000. Proficio Capital Partners LLC owned about 0.10% of Wix.com as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WIX. Advisors Asset Management Inc. grew its holdings in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its holdings 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 worth $43,000 after acquiring an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com in the 4th quarter valued at about $43,000. Global Retirement Partners LLC boosted its stake in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Wix.com in the 4th quarter valued at about $52,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

WIX stock opened at $172.59 on Friday. The company has a fifty day moving average price of $216.76 and a two-hundred day moving average price of $196.05. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 73.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has approved a share buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WIX. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Scotiabank began coverage on shares of Wix.com in a research note on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

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.