Creative Planning Sells 2,737 Shares of Wix.com Ltd. $WIX

Creative Planning trimmed its holdings in Wix.com Ltd. (NASDAQ:WIX) by 24.3% in the 2nd quarter, Holdings Channel reports. The fund owned 8,520 shares of the information services provider’s stock after selling 2,737 shares during the quarter. Creative Planning’s holdings in Wix.com were worth $1,350,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the period. Twin Tree Management LP purchased a new position in shares of Wix.com during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its position in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after buying an additional 132 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in Wix.com during the 2nd quarter valued at approximately $77,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

Wix.com stock opened at $95.90 on Friday. Wix.com Ltd. has a one year low of $92.23 and a one year high of $247.11. The business’s fifty day moving average is $136.57 and its 200 day moving average is $146.55. The stock has a market capitalization of $5.38 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 1.82 and a beta of 1.31.

Wix.com announced that its Board of Directors has approved a share repurchase program on Monday, August 11th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Needham & Company LLC lowered their price objective on Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Piper Sandler raised their price target on Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Benchmark dropped their price target on shares of Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada cut their price objective on shares of Wix.com from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $179.81.

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.