Avory & Company LLC Sells 3,590 Shares of Wix.com Ltd. (NASDAQ:WIX)

Avory & Company LLC trimmed its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,975 shares of the information services provider’s stock after selling 3,590 shares during the period. Wix.com makes up approximately 4.9% of Avory & Company LLC’s investment portfolio, making the stock its 7th largest position. Avory & Company LLC’s holdings in Wix.com were worth $8,791,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the fourth quarter worth about $43,000. Avior Wealth Management LLC lifted its holdings in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after acquiring an additional 89 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% in the fourth 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. bought a new position in shares of Wix.com in the fourth quarter worth about $52,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

Wix.com stock opened at $197.53 on Thursday. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11. The firm has a 50 day moving average price of $222.52 and a two-hundred day moving average price of $195.61. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 2.83 and a beta of 1.58.

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

Analysts Set New Price Targets

WIX has been the subject of a number of research reports. StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 25th. Citigroup increased their target price on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Scotiabank began coverage on shares of Wix.com in a report on Wednesday. They issued a “sector outperform” rating and a $250.00 price objective for the company. Finally, Cantor Fitzgerald raised their price objective on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $246.05.

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.