Bamco Inc. NY Sells 18,801 Shares of Wix.com Ltd. (NASDAQ:WIX)

Bamco Inc. NY lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,041 shares of the information services provider's stock after selling 18,801 shares during the period. Bamco Inc. NY owned 0.31% of Wix.com worth $36,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WIX. Newbridge Financial Services Group Inc. acquired a new position in shares of Wix.com during the fourth quarter valued at about $43,000. Avior Wealth Management LLC raised its stake in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after buying an additional 89 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Wix.com in the fourth quarter valued at about $52,000. Finally, Blue Trust Inc. raised its holdings in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WIX shares. Cantor Fitzgerald upped their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. UBS Group set a $250.00 price objective on Wix.com in a research note on Wednesday, March 5th. Cfra Research lowered shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. JMP Securities reiterated a "market outperform" rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com has an average rating of "Moderate Buy" and an average price target of $237.74.

Wix.com Stock Down 0.3 %

Shares of WIX traded down $0.45 during midday trading on Friday, reaching $171.82. 583,904 shares of the stock were exchanged, compared to its average volume of 659,894. The stock's 50 day simple moving average is $166.56 and its 200 day simple moving average is $195.86. The company has a market cap of $9.64 billion, a P/E ratio of 73.11, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a twelve month low of $120.78 and a twelve month high of $247.11.

Wix.com announced that its board has authorized 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 buy up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Wix.com Company 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.