Keybank National Association OH Takes $204,000 Position in Wix.com Ltd. (NASDAQ:WIX)

Keybank National Association OH purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 952 shares of the information services provider’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares during the last quarter. Captrust Financial Advisors lifted its position in Wix.com by 545.7% in the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after buying an additional 201,532 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Wix.com by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock valued at $39,859,000 after buying an additional 87,327 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in Wix.com by 192.9% during the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after purchasing an additional 64,869 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WIX. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. UBS Group set a $250.00 price target on shares of Wix.com in a research note on Wednesday, March 5th. Jefferies Financial Group upped their target price on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Benchmark upped their target price on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.74.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $175.87 on Wednesday. The stock has a fifty day moving average price of $219.43 and a 200 day moving average price of $196.11. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The company has a market cap of $9.64 billion, a PE ratio of 74.84, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com announced that its Board of Directors has authorized a stock 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 repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors 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.