Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario reduced its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 51.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,211 shares of the information services provider's stock after selling 6,631 shares during the period. Investment Management Corp of Ontario's holdings in Wix.com were worth $1,333,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WIX. Cullen Frost Bankers Inc. increased its position in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. grew 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 purchasing an additional 56 shares during the period. Global Retirement Partners LLC increased its stake in 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after buying an additional 63 shares during the period. Finally, Vestcor Inc boosted its stake in Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WIX shares. Piper Sandler increased their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Citigroup cut their target price on Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $237.74.

Wix.com Trading Down 0.1%

NASDAQ WIX traded down $0.16 during trading hours on Friday, reaching $182.75. The company's stock had a trading volume of 457,893 shares, compared to its average volume of 658,978. The business has a 50-day simple moving average of $166.28 and a 200 day simple moving average of $196.54. Wix.com Ltd. has a 52 week low of $134.74 and a 52 week high of $247.11. The stock has a market cap of $10.25 billion, a PE ratio of 77.77, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has initiated a share buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is 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.