Lazard Asset Management LLC Decreases Holdings in Wix.com Ltd. (NASDAQ:WIX)

Lazard Asset Management LLC lessened its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,176,810 shares of the information services provider's stock after selling 257,993 shares during the period. Lazard Asset Management LLC owned about 2.15% of Wix.com worth $252,484,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WIX. Avior Wealth Management LLC raised its position in Wix.com by 79.5% in the fourth 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 in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com during the fourth quarter valued at approximately $43,000. Global Retirement Partners LLC grew its stake in shares of Wix.com by 36.0% during 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. SBI Securities Co. Ltd. bought a new position in Wix.com in the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. boosted its stake in 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 acquiring an additional 56 shares during the last quarter. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WIX. Citigroup reduced their price target on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Scotiabank initiated coverage on shares of Wix.com in a research note on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective on the stock. Cantor Fitzgerald lifted their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a report on Thursday, February 20th. Finally, Jefferies Financial Group dropped their target price on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Five 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 company. Based on data from MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $237.74.

Wix.com Stock Performance

Shares of Wix.com stock 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 658,511. The stock's fifty day simple moving average is $166.28 and its two-hundred day simple moving average is $196.54. The company has a market capitalization of $10.25 billion, a P/E ratio of 77.77, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a one year low of $134.74 and a one year high of $247.11.

Wix.com announced that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors 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.