Wealthquest Corp Buys New Shares in Wix.com Ltd. (NASDAQ:WIX)

Wealthquest Corp bought a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,466 shares of the information services provider's stock, valued at approximately $403,000.

Several other hedge funds also recently made changes to their positions in WIX. Cullen Frost Bankers Inc. lifted its stake 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 purchasing an additional 55 shares during the period. Global Retirement Partners LLC lifted its stake in shares of 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 purchasing an additional 58 shares during the period. Blue Trust Inc. lifted its stake in shares of Wix.com by 30.3% in the fourth quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock valued at $55,000 after purchasing an additional 60 shares during the period. Vestcor Inc lifted its stake in shares of Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after purchasing an additional 63 shares during the period. Finally, Procyon Advisors LLC lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on WIX. Jefferies Financial Group reduced their price objective on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $173.00 to $216.00 in a research note on Monday, June 16th. Cfra Research downgraded shares of Wix.com from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 15th. B. Riley restated a "buy" rating and set a $230.00 target price (down from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Finally, Bank of America dropped their target price on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $228.95.

Wix.com Trading Down 0.3%

Shares of NASDAQ WIX traded down $0.51 during midday trading on Thursday, reaching $159.26. 615,739 shares of the stock were exchanged, compared to its average volume of 684,451. The company has a market capitalization of $8.94 billion, a P/E ratio of 63.45, a P/E/G ratio of 2.35 and a beta of 1.31. Wix.com Ltd. has a 52-week low of $137.94 and a 52-week high of $247.11. The stock has a 50 day moving average price of $161.73 and a 200-day moving average price of $188.48.

Wix.com announced that its board has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically 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.