Vident Advisory LLC Purchases New Position in Wix.com Ltd. (NASDAQ:WIX)

Vident Advisory LLC purchased a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,020 shares of the information services provider’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new position in Wix.com during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC raised its position in Wix.com by 79.5% during the fourth 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. Global Retirement Partners LLC increased its position in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. increased its position 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 valued at $54,000 after buying an additional 56 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $250.00 price objective on shares of Wix.com in a research report on Thursday, May 22nd. Barclays boosted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Thursday, May 22nd. B. Riley restated a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Wix.com in a research report on Wednesday. Finally, UBS Group dropped their price target on Wix.com from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $226.68.

Wix.com Stock Down 0.9%

Shares of Wix.com stock opened at $150.93 on Friday. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11. The business’s fifty day simple moving average is $163.82 and its 200-day simple moving average is $195.88. The firm has a market cap of $8.47 billion, a PE ratio of 64.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has approved a stock buyback 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 generally an indication that the company’s leadership believes its stock is 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.