Wix.com Ltd. (NASDAQ:WIX) Position Reduced by First Trust Advisors LP

First Trust Advisors LP cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 248,941 shares of the information services provider's stock after selling 9,457 shares during the quarter. First Trust Advisors LP owned about 0.45% of Wix.com worth $53,410,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Senvest Management LLC increased its stake in Wix.com by 27.3% in the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after purchasing an additional 304,712 shares in the last quarter. Mariner LLC raised its stake in shares of Wix.com by 39.2% during the 4th quarter. Mariner LLC now owns 10,737 shares of the information services provider's stock worth $2,304,000 after buying an additional 3,022 shares during the last quarter. Optimize Financial Inc acquired a new position in Wix.com during the fourth quarter worth about $2,275,000. Bessemer Group Inc. lifted its holdings in shares of Wix.com by 9.7% in the fourth quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock valued at $188,000 after purchasing an additional 77 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Wix.com in the fourth quarter valued at approximately $696,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WIX. Piper Sandler upped their target price on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. JMP Securities reissued a "market outperform" rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. Cfra Research lowered shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.68.

Wix.com Trading Down 1.3 %

WIX traded down $2.24 during trading hours on Monday, hitting $164.20. The company's stock had a trading volume of 215,713 shares, compared to its average volume of 654,933. The company has a 50-day simple moving average of $172.62 and a 200 day simple moving average of $196.38. The firm has a market capitalization of $9.21 billion, a PE ratio of 69.64, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Wix.com declared that its Board of Directors has initiated a share buyback 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 reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.