Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lowered its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,412 shares of the information services provider’s stock after selling 272 shares during the quarter. Plato Investment Management Ltd’s holdings in Wix.com were worth $950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. Avior Wealth Management LLC raised its stake in Wix.com by 79.5% during the fourth 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 in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the fourth quarter valued at approximately $43,000. Global Retirement Partners LLC raised its stake in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Wix.com during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $189.37 on Tuesday. The stock has a fifty day moving average price of $223.85 and a two-hundred day moving average price of $195.42. The firm has a market cap of $10.38 billion, a P/E ratio of 80.58, a PEG ratio of 2.83 and a beta of 1.58. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.

Wix.com declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on WIX shares. Needham & Company LLC restated a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company initiated coverage on Wix.com in a report on Monday, February 3rd. They set an “underweight” rating and a $208.00 target price for the company. Piper Sandler upped their target price on Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Bank of America upped their target price on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com 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.