Tidal Investments LLC Sells 1,522 Shares of Wix.com Ltd. (NASDAQ:WIX)

Tidal Investments LLC cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,124 shares of the information services provider's stock after selling 1,522 shares during the quarter. Tidal Investments LLC owned approximately 0.06% of Wix.com worth $7,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WIX. Assenagon Asset Management S.A. lifted its stake in shares of Wix.com by 94.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider's stock valued at $5,648,000 after buying an additional 12,807 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Wix.com by 10.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider's stock valued at $1,166,000 after purchasing an additional 504 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Wix.com by 22.7% in the fourth quarter. Arkadios Wealth Advisors now owns 7,193 shares of the information services provider's stock valued at $1,543,000 after purchasing an additional 1,332 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wix.com in the fourth quarter valued at about $321,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Wix.com by 113.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider's stock valued at $56,000 after purchasing an additional 139 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Down 1.4%

WIX stock opened at $180.22 on Tuesday. The firm has a 50 day moving average of $166.38 and a 200-day moving average of $197.06. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The firm has a market capitalization of $10.11 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has approved 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 purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on WIX. JPMorgan Chase & Co. lowered their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. JMP Securities reiterated a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. Citigroup lowered their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a report on Friday, April 25th. Barclays increased their target price on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Scotiabank assumed coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Wix.com has a consensus rating of "Moderate Buy" and an average target price of $236.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.