Janney Montgomery Scott LLC Takes $5.37 Million Position in Wix.com Ltd. (NASDAQ:WIX)

Janney Montgomery Scott LLC bought a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 32,848 shares of the information services provider's stock, valued at approximately $5,367,000. Janney Montgomery Scott LLC owned approximately 0.06% of Wix.com at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. boosted its holdings 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 buying an additional 55 shares during the period. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% in 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. Blue Trust Inc. boosted its stake in Wix.com by 30.3% in the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock worth $55,000 after purchasing an additional 60 shares during the period. Vestcor Inc increased its holdings in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after purchasing 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 purchasing an additional 67 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Wix.com from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reduced their target price on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Citigroup decreased their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, UBS Group decreased their price objective on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Three research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $228.95.

Wix.com Trading Down 0.3%

Shares of NASDAQ:WIX traded down $0.51 on Thursday, hitting $159.26. The company had a trading volume of 615,739 shares, compared to its average volume of 684,451. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 63.45, a P/E/G ratio of 2.33 and a beta of 1.31. The stock has a 50 day moving average price of $161.73 and a 200 day moving average price of $188.48. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11.

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

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.