Clearbridge Investments LLC Lowers Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Clearbridge Investments LLC reduced its position in Wix.com Ltd. (NASDAQ:WIX) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,051,035 shares of the information services provider’s stock after selling 150,985 shares during the quarter. Clearbridge Investments LLC owned about 1.92% of Wix.com worth $225,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WIX. Advisors Asset Management Inc. lifted its position in Wix.com by 112.1% during the 3rd 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 in the last quarter. Avior Wealth Management LLC grew its holdings in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com during the 4th quarter worth $43,000. Global Retirement Partners LLC increased its stake 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 during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Wix.com in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

WIX has been the topic of a number of analyst reports. UBS Group set a $250.00 target price on Wix.com in a research report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and set a $240.00 price objective on shares of Wix.com in a report on Tuesday, February 18th. Barclays increased their target price on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. Finally, Citigroup increased their price objective on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Stock Performance

Shares of WIX opened at $166.36 on Monday. The firm has a market cap of $9.33 billion, a PE ratio of 70.79, a PEG ratio of 2.83 and a beta of 1.64. The firm’s 50 day moving average price is $204.99 and its 200 day moving average price is $197.13. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11.

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