RV Capital AG Sells 21,780 Shares of Wix.com Ltd. (NASDAQ:WIX)

RV Capital AG lessened its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,000 shares of the information services provider's stock after selling 21,780 shares during the quarter. Wix.com accounts for approximately 12.2% of RV Capital AG's investment portfolio, making the stock its 4th biggest holding. RV Capital AG owned 0.60% of Wix.com worth $55,222,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Procyon Advisors LLC grew its stake in Wix.com by 5.1% in the first 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 in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Wix.com by 16.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 6,339 shares of the information services provider's stock valued at $1,036,000 after buying an additional 904 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Wix.com by 12,771.4% in the first quarter. GAMMA Investing LLC now owns 69,763 shares of the information services provider's stock valued at $11,398,000 after buying an additional 69,221 shares in the last quarter. Versant Capital Management Inc increased its holdings in Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after buying an additional 622 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Wix.com by 8.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,468 shares of the information services provider's stock worth $530,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Stock Down 0.6%

Shares of Wix.com stock opened at $152.32 on Friday. The firm's 50-day moving average price is $161.79 and its two-hundred day moving average price is $194.44. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 64.82, a PEG ratio of 2.83 and a beta of 1.31.

Wix.com announced that its Board of Directors has authorized a share buyback plan 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 buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

WIX has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. UBS Group cut their target price on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their price target on Wix.com from $176.00 to $173.00 and set an "equal weight" rating for the company in a report on Thursday, May 22nd. Benchmark dropped their price objective on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $250.00 price objective on shares of Wix.com in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $226.68.

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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