Soma Equity Partners LP cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 884,442 shares of the information services provider's stock after selling 24,327 shares during the quarter. Wix.com comprises approximately 10.5% of Soma Equity Partners LP's portfolio, making the stock its biggest holding. Soma Equity Partners LP owned approximately 1.61% of Wix.com worth $189,757,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the 4th quarter valued at $43,000. Avior Wealth Management LLC boosted its stake in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after buying an additional 89 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Wix.com by 36.0% in the fourth 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. bought a new stake in shares of Wix.com in the fourth quarter worth $52,000. Finally, Blue Trust Inc. grew its holdings in 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 acquiring an additional 56 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
Wix.com Stock Down 1.4%
Shares of WIX stock traded down $2.53 during trading hours on Monday, reaching $180.22. 456,922 shares of the stock traded hands, compared to its average volume of 656,268. The firm has a market capitalization of $10.11 billion, a PE ratio of 76.69, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11. The business has a fifty day moving average price of $166.38 and a 200 day moving average price of $197.06.
Wix.com declared that its board has authorized a stock repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Cfra Research lowered Wix.com from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 15th. Piper Sandler boosted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut 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. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, Oppenheimer cut their target price on Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.95.
View Our Latest Analysis on WIX
About Wix.com
(
Free Report)
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.
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