Victory Capital Management Inc. Sells 457 Shares of Wix.com Ltd. (NASDAQ:WIX)

Victory Capital Management Inc. lowered its holdings in Wix.com Ltd. (NASDAQ:WIX) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,793 shares of the information services provider’s stock after selling 457 shares during the quarter. Victory Capital Management Inc.’s holdings in Wix.com were worth $2,959,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Wix.com during the 4th quarter valued at approximately $256,000. Oppenheimer & Co. Inc. acquired a new position in Wix.com during the 3rd quarter valued at approximately $461,000. Loomis Sayles & Co. L P increased its stake in Wix.com by 23.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 188,746 shares of the information services provider’s stock valued at $31,552,000 after purchasing an additional 36,459 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Wix.com by 348.6% during the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after purchasing an additional 6,919 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WIX shares. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Barclays upped their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Cantor Fitzgerald upped their price objective on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, Bank of America upped their price objective on shares of Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Stock Down 0.1 %

Shares of NASDAQ WIX opened at $172.59 on Monday. The firm has a 50-day simple moving average of $216.76 and a 200-day simple moving average of $196.28. The stock has a market capitalization 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 Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11.

Wix.com announced that its board has initiated a stock buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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.