SG Americas Securities LLC Sells 56,514 Shares of Wix.com Ltd. (NASDAQ:WIX)

SG Americas Securities LLC trimmed its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,419 shares of the information services provider’s stock after selling 56,514 shares during the quarter. SG Americas Securities LLC owned approximately 0.74% of Wix.com worth $67,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the 4th quarter worth approximately $43,000. Global Retirement Partners LLC grew 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 acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Wix.com in the 4th quarter worth approximately $52,000. Blue Trust Inc. lifted its holdings in Wix.com by 30.3% in the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider’s stock worth $55,000 after buying an additional 60 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Wix.com by 559.6% in the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock worth $74,000 after buying an additional 291 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Up 1.1%

Shares of NASDAQ WIX opened at $153.96 on Tuesday. The stock has a market capitalization of $8.64 billion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.31. The stock’s fifty day simple moving average is $161.56 and its two-hundred day simple moving average is $193.83. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11.

Wix.com announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 7th. Citigroup dropped their price objective on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a report on Friday, April 25th. Cfra Research cut Wix.com from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 15th. Bank of America dropped their price objective on Wix.com from $270.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Finally, Piper Sandler dropped their price objective on Wix.com from $262.00 to $225.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.68.

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.