Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Ostrum Asset Management

Ostrum Asset Management trimmed its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 21.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435 shares of the information services provider’s stock after selling 122 shares during the period. Ostrum Asset Management’s holdings in Wix.com were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Wix.com by 3.4% in the 3rd quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider’s stock valued at $5,792,000 after purchasing an additional 1,127 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Wix.com by 8.9% in the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock valued at $7,673,000 after acquiring an additional 3,864 shares during the period. GAMMA Investing LLC grew its position in shares of Wix.com by 962.7% during the fourth quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock worth $116,000 after acquiring an additional 491 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Wix.com in the 4th quarter valued at $1,042,000. Finally, Fulton Bank N.A. purchased a new stake in Wix.com in the 4th quarter valued at $211,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on WIX. Cantor Fitzgerald boosted their price target on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Wells Fargo & Company upgraded Wix.com from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $169.00 to $176.00 in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their price objective on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Cfra Research downgraded shares of Wix.com from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $238.89.

Wix.com Stock Down 8.3 %

WIX stock opened at $146.50 on Tuesday. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 2.83 and a beta of 1.65. The firm has a 50 day moving average of $177.75 and a two-hundred day moving average of $196.38. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.

Wix.com announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.