Toth Financial Advisory Corp Sells 3,600 Shares of Wix.com Ltd. (NASDAQ:WIX)

Toth Financial Advisory Corp cut its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 91.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355 shares of the information services provider's stock after selling 3,600 shares during the quarter. Toth Financial Advisory Corp's holdings in Wix.com were worth $58,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com in the 4th quarter valued at about $43,000. Global Retirement Partners LLC boosted its holdings in Wix.com by 36.0% in the fourth 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 during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wix.com during the 4th quarter valued at approximately $52,000. Blue Trust Inc. raised its holdings in Wix.com by 30.3% during 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 last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock worth $74,000 after purchasing an additional 291 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Price Performance

NASDAQ WIX traded up $4.66 on Tuesday, reaching $158.62. 1,698,559 shares of the company's stock traded hands, compared to its average volume of 654,821. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The stock has a 50-day simple moving average of $161.56 and a 200 day simple moving average of $193.83. The stock has a market cap of $8.90 billion, a PE ratio of 67.50, a P/E/G ratio of 2.83 and a beta of 1.31.

Wix.com declared that its board has initiated a stock repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

WIX has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Scotiabank began coverage on Wix.com in a research report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price objective for the company. Cfra Research downgraded Wix.com from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 15th. UBS Group decreased their target price on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Baird R W raised Wix.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.68.

About Wix.com

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.