Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Global Endowment Management LP

Global Endowment Management LP lowered its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 85.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,064 shares of the information services provider's stock after selling 72,131 shares during the period. Global Endowment Management LP's holdings in Wix.com were worth $2,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WIX. Geode Capital Management LLC lifted its stake in shares of Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock valued at $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Wix.com by 3.4% in the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider's stock worth $5,792,000 after purchasing an additional 1,127 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Wix.com by 8.9% in the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock worth $7,673,000 after buying an additional 3,864 shares during the period. GAMMA Investing LLC raised its holdings in Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock valued at $116,000 after buying an additional 491 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Wix.com in the 4th quarter worth $1,042,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

WIX has been the topic of several recent analyst reports. JMP Securities reissued a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. Scotiabank began coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.89.

Wix.com Stock Up 5.7 %

Shares of WIX traded up $8.32 during trading hours on Tuesday, reaching $154.82. 195,263 shares of the company traded hands, compared to its average volume of 650,808. The business has a fifty day moving average price of $177.75 and a 200-day moving average price of $196.38. The stock has a market capitalization of $8.69 billion, a P/E ratio of 65.41, a P/E/G ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11.

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

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.