11,518 Shares in Wix.com Ltd. (NASDAQ:WIX) Purchased by Stifel Financial Corp

Stifel Financial Corp bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,518 shares of the information services provider's stock, valued at approximately $2,471,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Avior Wealth Management LLC raised its holdings in shares of 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 buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the fourth quarter valued at about $43,000. Global Retirement Partners LLC boosted its holdings in Wix.com by 36.0% in 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 during the last quarter. SBI Securities Co. Ltd. purchased a new position in Wix.com in the 4th quarter valued at $52,000. Finally, Blue Trust Inc. grew its stake in Wix.com by 28.3% during the 4th 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 in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Up 3.4 %

WIX stock traded up $5.74 on Thursday, reaching $172.19. 713,803 shares of the company's stock were exchanged, compared to its average volume of 659,026. The stock has a fifty day moving average of $166.90 and a 200-day moving average of $195.86. The firm has a market cap of $9.66 billion, a PE ratio of 73.27, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a twelve month low of $119.25 and a twelve month high of $247.11.

Wix.com declared that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WIX. Bank of America lifted their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $169.00 to $176.00 in a report on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and issued a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. StockNews.com raised Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Barclays raised their price objective on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Five equities 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 stock. According to data from MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $237.74.

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.