Analyst IMS Investment Management Services Ltd. Has $60.95 Million Position in Wix.com Ltd. (NASDAQ:WIX)

Analyst IMS Investment Management Services Ltd. decreased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 284,094 shares of the information services provider’s stock after selling 2,965 shares during the quarter. Wix.com comprises 2.2% of Analyst IMS Investment Management Services Ltd.’s investment portfolio, making the stock its 5th biggest position. Analyst IMS Investment Management Services Ltd.’s holdings in Wix.com were worth $60,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WIX. Cullen Frost Bankers Inc. raised its stake in Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. raised 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 in the last quarter. Global Retirement Partners LLC raised 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after purchasing an additional 63 shares in the last quarter. Finally, Vestcor Inc raised its stake in Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WIX shares. Cantor Fitzgerald lifted their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler lifted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $248.00 to $276.00 in a research report on Monday, January 13th. Finally, Robert W. Baird boosted their target price on shares of Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Trading Down 1.2 %

Shares of Wix.com stock opened at $172.83 on Friday. The firm has a market capitalization of $9.47 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The firm’s 50 day moving average is $217.76 and its 200 day moving average is $195.81. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.

Wix.com announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

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.