CenterBook Partners LP Purchases New Position in Wix.com Ltd. (NASDAQ:WIX)

CenterBook Partners LP purchased a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,243 shares of the information services provider's stock, valued at approximately $696,000.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC boosted its holdings 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 during the last quarter. Global Retirement Partners LLC grew its stake 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. acquired a new position in Wix.com during the fourth quarter worth $52,000. Finally, Blue Trust Inc. raised its position in Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after acquiring an additional 56 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Price Performance

WIX traded down $1.23 on Thursday, hitting $159.83. 243,160 shares of the stock were exchanged, compared to its average volume of 645,764. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 68.17, a PEG ratio of 2.83 and a beta of 1.65. The business has a 50-day moving average of $182.07 and a two-hundred day moving average of $195.98.

Wix.com announced that its Board of Directors has authorized a share 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 board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WIX. Barclays lifted their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Wells Fargo & Company raised Wix.com from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. UBS Group set a $250.00 target price on Wix.com in a research note on Wednesday, March 5th. Morgan Stanley dropped their price target on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Benchmark lifted their price objective on shares of Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and an average target price of $238.89.

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.