Wix.com Ltd. (NASDAQ:WIX) Shares Bought by Mariner LLC

Mariner LLC raised its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 39.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,737 shares of the information services provider's stock after acquiring an additional 3,022 shares during the period. Mariner LLC's holdings in Wix.com were worth $2,304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in shares of Wix.com by 3.4% in the 3rd quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider's stock worth $5,792,000 after buying an additional 1,127 shares during the last quarter. Franklin Resources Inc. increased its holdings in Wix.com by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock worth $7,673,000 after acquiring an additional 3,864 shares during the period. GAMMA Investing LLC increased its stake in Wix.com by 962.7% in the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock worth $116,000 after acquiring an additional 491 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Wix.com in the 4th quarter worth $1,042,000. Finally, Fulton Bank N.A. purchased a new stake in Wix.com during the fourth quarter valued at about $211,000. Institutional investors own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

WIX has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company raised shares of Wix.com from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $169.00 to $176.00 in a report on Tuesday, April 8th. Cantor Fitzgerald increased their target price on Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and set 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 given a strong buy rating to the company. According to MarketBeat, Wix.com has an average rating of "Moderate Buy" and a consensus price target of $236.68.

Wix.com Price Performance

NASDAQ WIX traded up $3.76 during mid-day trading on Tuesday, hitting $168.54. The stock had a trading volume of 69,576 shares, compared to its average volume of 654,136. The firm's 50 day moving average is $171.58 and its 200 day moving average is $196.36. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 71.69, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11.

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

Wix.com 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.