Marietta Investment Partners LLC Acquires Shares of 5,830 Wix.com Ltd. (NASDAQ:WIX)

Marietta Investment Partners LLC bought a new stake in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,830 shares of the information services provider’s stock, valued at approximately $1,251,000.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. boosted its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC lifted its position 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 buying an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after buying an additional 63 shares in the last quarter. Finally, Vestcor Inc lifted its position in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after buying an additional 63 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Wix.com stock opened at $172.33 on Friday. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The stock has a market cap of $9.45 billion, a PE ratio of 73.33, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The firm’s 50-day simple moving average is $211.60 and its 200 day simple moving average is $196.06.

Wix.com announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

WIX has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. UBS Group set a $250.00 target price on shares of Wix.com in a report on Wednesday, March 5th. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. Finally, Jefferies Financial Group upped their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.74.

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.