Harbor Capital Advisors Inc. Raises Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Harbor Capital Advisors Inc. lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,926 shares of the information services provider's stock after buying an additional 8,330 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of Wix.com worth $5,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of Wix.com by 9.9% in the fourth 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 period. Global Retirement Partners LLC grew its position in shares of Wix.com by 36.0% in 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 during the last quarter. Blue Trust Inc. raised its stake in Wix.com by 30.3% in the fourth quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock worth $55,000 after buying an additional 60 shares in the last quarter. Vestcor Inc lifted its position in Wix.com by 8.0% during the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after buying an additional 63 shares during the period. Finally, Procyon Advisors LLC boosted its position 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 worth $226,000 after purchasing an additional 67 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WIX shares. Cfra Research cut Wix.com from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Baird R W upgraded shares of Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. B. Riley restated a "buy" rating and set a $230.00 target price (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Bank of America cut their target price on Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Citigroup decreased their target price on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and a consensus target price of $226.68.

Wix.com Stock Down 3.7%

Shares of NASDAQ:WIX traded down $5.65 during trading on Friday, hitting $149.10. The stock had a trading volume of 2,181,885 shares, compared to its average volume of 901,919. The stock has a 50-day simple moving average of $161.87 and a two-hundred day simple moving average of $192.85. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 63.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.31. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11.

Wix.com declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are 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.