HighTower Advisors LLC Buys New Shares in Wix.com Ltd. (NASDAQ:WIX)

HighTower Advisors LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,294 shares of the information services provider’s stock, valued at approximately $278,000.

Several other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Wix.com by 60.8% in 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 buying an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Wix.com in the fourth quarter worth about $256,000. XTX Topco Ltd lifted its stake in Wix.com by 348.6% during the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after purchasing an additional 6,919 shares during the period. Bank of New York Mellon Corp boosted its holdings in Wix.com by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after purchasing an additional 11,048 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Wix.com by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock valued at $22,603,000 after purchasing an additional 5,286 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WIX shares. Royal Bank of Canada restated an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Citigroup lifted their price objective on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. UBS Group set a $250.00 target price on shares of Wix.com in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Stock Up 1.1 %

Shares of WIX opened at $165.87 on Thursday. The stock’s fifty day simple moving average is $200.57 and its 200-day simple moving average is $197.03. The firm has a market capitalization of $9.31 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11.

Wix.com declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.