CWA Asset Management Group LLC Has $2.73 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

CWA Asset Management Group LLC grew its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 243.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,688 shares of the information services provider's stock after acquiring an additional 11,831 shares during the period. CWA Asset Management Group LLC's holdings in Wix.com were worth $2,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WIX. Cullen Frost Bankers Inc. raised its stake in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after purchasing an additional 55 shares during the last quarter. Global Retirement Partners LLC raised its stake in 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 purchasing an additional 58 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Wix.com by 30.3% in the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock valued at $55,000 after buying an additional 60 shares in the last quarter. Vestcor Inc raised its stake in shares of Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after buying an additional 63 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in shares of Wix.com by 5.1% in the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after buying an additional 67 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Down 0.4%

NASDAQ:WIX traded down $0.58 during mid-day trading on Friday, reaching $157.92. 1,088,838 shares of the company were exchanged, compared to its average volume of 679,975. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The company has a fifty day moving average of $161.76 and a 200 day moving average of $189.91. The stock has a market cap of $8.86 billion, a PE ratio of 62.92, a PEG ratio of 2.30 and a beta of 1.31.

Wix.com declared that its board has initiated a share repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WIX shares. Royal Bank Of Canada dropped their price objective on shares of Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Morgan Stanley dropped their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup dropped their price objective on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JMP Securities restated a "market outperform" rating and issued a $250.00 price objective on shares of Wix.com in a research note on Friday. Finally, Jefferies Financial Group dropped their price objective on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.