UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $70.70 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,543 shares of the information services provider's stock after selling 12,800 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Wix.com worth $70,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cullen Frost Bankers Inc. raised its holdings in shares of Wix.com by 9.9% in the 4th 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. Blue Trust Inc. lifted its position in shares of Wix.com by 28.3% in the fourth 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 during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares during the last quarter. Vestcor Inc increased its holdings in shares of Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after acquiring an additional 63 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Wix.com by 9.7% during the 4th quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock worth $188,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Trading Up 0.1%

NASDAQ WIX traded up $0.14 during trading hours on Wednesday, hitting $152.30. 911,343 shares of the company's stock were exchanged, compared to its average volume of 655,946. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 64.81, a PEG ratio of 2.83 and a beta of 1.56. The stock has a 50-day simple moving average of $164.26 and a 200 day simple moving average of $196.11. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11.

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

Wall Street Analysts Forecast Growth

WIX has been the topic of several research reports. Piper Sandler decreased their target price on Wix.com from $262.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Bank of America reduced their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company decreased their price objective on Wix.com from $176.00 to $173.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Barclays boosted their target price on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, UBS Group dropped 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, May 22nd. Four 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 stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $226.68.

Wix.com Company 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.