Inceptionr LLC Grows Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Inceptionr LLC raised its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 232.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,993 shares of the information services provider’s stock after buying an additional 4,188 shares during the period. Inceptionr LLC’s holdings in Wix.com were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its position in shares of Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after buying an additional 130 shares during the period. Avior Wealth Management LLC boosted its position in shares of 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 during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com during the fourth quarter worth $43,000. Global Retirement Partners LLC boosted its position in shares of Wix.com by 36.0% during 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 period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Wix.com during the fourth quarter worth $52,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

WIX opened at $197.53 on Thursday. The business’s 50-day simple moving average is $222.52 and its 200-day simple moving average is $195.61. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock has a market capitalization of $10.83 billion, a P/E ratio of 84.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58.

Wix.com announced that its board has approved a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WIX shares. Needham & Company LLC restated a “buy” rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.05.

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.