Mackenzie Financial Corp lifted its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 211.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,395 shares of the information services provider's stock after acquiring an additional 19,943 shares during the period. Mackenzie Financial Corp owned 0.05% of Wix.com worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in WIX. Avior Wealth Management LLC raised 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 worth $43,000 after purchasing an additional 89 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com during the fourth quarter valued at approximately $256,000. Blue Trust Inc. raised its holdings in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after acquiring an additional 56 shares during the period. R Squared Ltd acquired a new stake in shares of Wix.com during the fourth quarter valued at approximately $131,000. Finally, Mediolanum International Funds Ltd raised its holdings in shares of Wix.com by 50.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 20,147 shares of the information services provider's stock valued at $4,369,000 after acquiring an additional 6,747 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on WIX shares. Royal Bank of Canada cut their price target on shares of Wix.com from $245.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Cfra Research downgraded shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. 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 research report on Wednesday, April 16th. Piper Sandler lowered their price objective on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Citigroup lowered their price objective on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of "Moderate Buy" and an average target price of $226.68.
Read Our Latest Stock Analysis on Wix.com
Wix.com Stock Down 1.4%
Wix.com stock traded down $2.09 during mid-day trading on Friday, reaching $148.84. The company had a trading volume of 1,137,671 shares, compared to its average volume of 656,094. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11. The company has a 50 day moving average of $163.33 and a 200-day moving average of $195.68. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 63.34, a PEG ratio of 2.83 and a beta of 1.56.
Wix.com declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
Wix.com Profile
(
Free Report)
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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