Ameriprise Financial Inc. Purchases 11,966 Shares of Wix.com Ltd. (NASDAQ:WIX)

Ameriprise Financial Inc. grew its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 63.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,746 shares of the information services provider's stock after buying an additional 11,966 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Wix.com worth $6,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of 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 during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com in the 4th quarter worth approximately $43,000. Global Retirement Partners LLC raised its holdings in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com in the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. grew its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after buying an additional 56 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Wix.com Stock Down 2.4%

NASDAQ:WIX traded down $3.73 during midday trading on Friday, hitting $151.26. The company had a trading volume of 1,340,082 shares, compared to its average volume of 651,249. The company has a market capitalization of $8.49 billion, a PE ratio of 64.37, a P/E/G ratio of 2.83 and a beta of 1.56. The stock's fifty day moving average price is $165.42 and its 200-day moving average price is $196.87. Wix.com Ltd. has a 52-week low of $137.94 and a 52-week high of $247.11.

Wix.com announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price objective on shares of Wix.com in a research note on Wednesday. Oppenheimer reduced their price objective on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Saturday. 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. Finally, UBS Group reduced their price objective 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. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.16.

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.