Jones Financial Companies Lllp Buys 291 Shares of Wix.com Ltd. (NASDAQ:WIX)

Jones Financial Companies Lllp raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 559.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 343 shares of the information services provider’s stock after acquiring an additional 291 shares during the quarter. Jones Financial Companies Lllp’s holdings in Wix.com were worth $74,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in Wix.com by 27.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 887 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 192 shares during the period. US Bancorp DE increased its stake in Wix.com by 1.9% in the fourth quarter. US Bancorp DE now owns 11,057 shares of the information services provider’s stock valued at $2,372,000 after acquiring an additional 209 shares during the period. Mutual of America Capital Management LLC bought a new stake in Wix.com in the fourth quarter valued at about $8,229,000. Proficio Capital Partners LLC bought a new stake in Wix.com in the fourth quarter valued at about $11,508,000. Finally, New York Life Investment Management LLC bought a new stake in Wix.com in the fourth quarter valued at about $269,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 1.4 %

Shares of WIX stock opened at $174.99 on Tuesday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The firm’s 50 day moving average is $215.72 and its 200-day moving average is $196.36. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 74.46, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com announced that its board has authorized a share buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WIX. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. Jefferies Financial Group boosted their price target on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, B. Riley boosted their price target on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.74.

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.