CWA Asset Management Group LLC Buys 11,831 Shares of Wix.com Ltd. (NASDAQ:WIX)

CWA Asset Management Group LLC boosted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 243.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,688 shares of the information services provider's stock after buying an additional 11,831 shares during the quarter. CWA Asset Management Group LLC's holdings in Wix.com were worth $2,726,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew 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 worth $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Wix.com during the 4th quarter worth about $52,000. Blue Trust Inc. grew its holdings in Wix.com by 30.3% during the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock worth $55,000 after acquiring an additional 60 shares in the last quarter. Jones Financial Companies Lllp increased its position in Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock valued at $74,000 after purchasing an additional 291 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Wix.com in the 4th quarter valued at about $114,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Up 0.9%

Shares of NASDAQ WIX opened at $158.50 on Thursday. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11. The firm has a market cap of $8.89 billion, a P/E ratio of 63.15, a P/E/G ratio of 2.29 and a beta of 1.31. The business's 50 day moving average price is $161.71 and its 200 day moving average price is $191.03.

Wix.com announced that its board has authorized a share buyback program 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 reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Scotiabank started coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective on the stock. Wall Street Zen cut Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th. Royal Bank Of Canada reduced their price target on Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Morgan Stanley decreased their price objective on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Oppenheimer cut their target price on Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $228.95.

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.

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