Vanguard Group Inc. Has $48.67 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Vanguard Group Inc. reduced its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,846 shares of the information services provider's stock after selling 19,355 shares during the period. Vanguard Group Inc. owned approximately 0.41% of Wix.com worth $48,670,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Wix.com during the 4th quarter worth $43,000. Avior Wealth Management LLC boosted its holdings 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 buying an additional 89 shares in the last quarter. Global Retirement Partners LLC increased its holdings 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 buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Wix.com during the fourth quarter worth $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 valued at $54,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WIX. Raymond James upgraded Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Citigroup upped their price target on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Barclays boosted their price target on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Four research 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 company. According to MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and an average price target of $238.89.

Wix.com Trading Down 1.1 %

NASDAQ:WIX traded down $1.71 on Thursday, hitting $159.34. 174,544 shares of the company's stock traded hands, compared to its average volume of 645,528. The company has a market cap of $8.94 billion, a PE ratio of 67.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The firm has a 50-day moving average price of $182.07 and a 200-day moving average price of $195.98.

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