Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Ion Asset Management Ltd.

Ion Asset Management Ltd. cut its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the information services provider's stock after selling 10,000 shares during the quarter. Wix.com makes up approximately 0.5% of Ion Asset Management Ltd.'s portfolio, making the stock its 20th largest holding. Ion Asset Management Ltd. owned approximately 0.07% of Wix.com worth $8,582,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com in the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC raised its position in Wix.com by 79.5% in the fourth 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. Global Retirement Partners LLC lifted its stake in 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 acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Wix.com in the fourth quarter valued at approximately $52,000. Finally, Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 56 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the topic of a number of analyst reports. Scotiabank started coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price objective on the stock. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price objective on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group decreased their target price on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and a consensus price target of $237.74.

Wix.com Trading Down 0.7 %

Shares of Wix.com stock traded down $1.10 on Friday, reaching $166.83. 801,273 shares of the stock were exchanged, compared to its average volume of 658,804. The firm has a market capitalization of $9.36 billion, a PE ratio of 70.99, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $118.61 and a 1-year high of $247.11. The business has a fifty day moving average price of $169.00 and a two-hundred day moving average price of $196.20.

Wix.com announced that its board has approved a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are 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.