Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in Wix.com Ltd. (NASDAQ:WIX) by 34.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,560 shares of the information services provider’s stock after selling 109,892 shares during the quarter. Legal & General Group Plc owned 0.37% of Wix.com worth $43,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WIX. Avior Wealth Management LLC lifted 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. purchased a new stake in shares of Wix.com in the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC boosted its stake in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. purchased a new position in Wix.com during the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. raised its stake in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WIX. Cantor Fitzgerald lifted their price target on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. 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. Jefferies Financial Group decreased their price target on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 7th. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $242.53.

Wix.com Price Performance

Shares of WIX opened at $158.50 on Friday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company’s fifty day moving average price is $185.82 and its 200 day moving average price is $196.37. The company has a market capitalization of $8.89 billion, a PE ratio of 67.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Wix.com announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are 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.