Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. trimmed its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 15.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,988 shares of the information services provider’s stock after selling 19,000 shares during the period. Phoenix Financial Ltd. owned 0.19% of Wix.com worth $22,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Norges Bank purchased a new position in Wix.com during the 4th quarter valued at about $63,829,000. Alliancebernstein L.P. grew its stake in Wix.com by 1,382.1% in the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider’s stock valued at $55,708,000 after purchasing an additional 242,130 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Wix.com by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock valued at $201,151,000 after purchasing an additional 162,400 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Benchmark increased their target price on Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Barclays lifted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Bank of America upped their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Scotiabank started coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.53.

Wix.com Trading Up 10.3 %

Shares of NASDAQ:WIX opened at $164.97 on Thursday. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 70.20, a P/E/G 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 business has a fifty day simple moving average of $188.70 and a 200 day simple moving average of $196.50.

Wix.com declared that its board has initiated a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually 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.