Lido Advisors LLC Raises Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Lido Advisors LLC lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 64.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,443 shares of the information services provider's stock after acquiring an additional 1,734 shares during the period. Lido Advisors LLC's holdings in Wix.com were worth $953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC grew its position in Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Wix.com during the fourth quarter worth about $43,000. Global Retirement Partners LLC grew its position 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 purchasing 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. lifted its position in shares of Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Stock Performance

Shares of WIX traded down $2.30 during mid-day trading on Tuesday, hitting $164.13. 605,378 shares of the company traded hands, compared to its average volume of 659,310. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 69.84, a P/E/G ratio of 2.83 and a beta of 1.56. The stock has a 50-day moving average price of $168.34 and a two-hundred day moving average price of $196.28. Wix.com Ltd. has a 1 year low of $118.61 and a 1 year high of $247.11.

Wix.com announced that its board has initiated a stock buyback program 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 programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

WIX has been the subject of a number of research analyst reports. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 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. Cantor Fitzgerald raised their price objective 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. UBS Group set a $250.00 target price on shares of Wix.com in a research note on Wednesday, March 5th. Finally, JMP Securities restated a "market outperform" rating and set a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and an average price target of $237.74.

About Wix.com

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.