Millennium Management LLC Sells 403,160 Shares of Wix.com Ltd. (NASDAQ:WIX)

Millennium Management LLC lowered its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 60.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,696 shares of the information services provider's stock after selling 403,160 shares during the quarter. Millennium Management LLC owned 0.48% of Wix.com worth $55,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WIX. Avior Wealth Management LLC grew its stake in Wix.com by 79.5% during 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 during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com during the 4th quarter worth approximately $43,000. Global Retirement Partners LLC boosted its holdings in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wix.com during the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. grew its holdings in Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after purchasing an additional 56 shares during the period. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Cantor Fitzgerald increased their target price on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Oppenheimer decreased their price target on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley dropped their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Benchmark decreased their target price on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $236.95.

Wix.com Stock Performance

NASDAQ:WIX traded up $1.52 during midday trading on Tuesday, reaching $181.74. 1,205,538 shares of the stock traded hands, compared to its average volume of 658,475. The stock has a market capitalization of $10.20 billion, a P/E ratio of 77.34, a PEG ratio of 2.83 and a beta of 1.56. The company has a fifty day moving average of $166.56 and a 200 day moving average of $196.96. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11.

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